Quantinno Capital Management LP Purchases 62,344 Shares of WesBanco, Inc. $WSBC

Quantinno Capital Management LP grew its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 190.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,143 shares of the financial services provider’s stock after acquiring an additional 62,344 shares during the quarter. Quantinno Capital Management LP’s holdings in WesBanco were worth $3,281,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal Bank of Canada raised its stake in WesBanco by 52.2% in the 1st quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider’s stock worth $1,858,000 after purchasing an additional 20,585 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of WesBanco by 56.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider’s stock worth $1,582,000 after purchasing an additional 18,347 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of WesBanco by 1,553.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,895 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of WesBanco by 179.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock worth $47,779,000 after purchasing an additional 991,584 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of WesBanco by 60.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider’s stock worth $6,704,000 after purchasing an additional 81,319 shares during the period. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Kimberly L. Griffith sold 6,875 shares of WesBanco stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $41.20, for a total transaction of $283,250.00. Following the sale, the executive vice president directly owned 15,858 shares of the company’s stock, valued at approximately $653,349.60. The trade was a 30.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jayson M. Zatta sold 12,500 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $41.80, for a total transaction of $522,500.00. Following the completion of the transaction, the executive vice president directly owned 81,082 shares of the company’s stock, valued at approximately $3,389,227.60. The trade was a 13.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 28,625 shares of company stock worth $1,168,982. Corporate insiders own 2.07% of the company’s stock.

WesBanco Stock Down 0.1%

NASDAQ WSBC opened at $41.69 on Friday. The business has a fifty day moving average price of $38.66 and a two-hundred day moving average price of $36.22. The stock has a market capitalization of $4.00 billion, a PE ratio of 12.12 and a beta of 0.67. WesBanco, Inc. has a fifty-two week low of $29.32 and a fifty-two week high of $42.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. WesBanco had a return on equity of 9.72% and a net margin of 23.35%.The company had revenue of $275.79 million for the quarter, compared to analyst estimates of $267.71 million. Equities analysts expect that WesBanco, Inc. will post 3.57 earnings per share for the current fiscal year.

WesBanco announced that its Board of Directors has authorized a share repurchase program on Wednesday, May 20th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.6%. WesBanco’s dividend payout ratio is 44.19%.

Analyst Upgrades and Downgrades

WSBC has been the subject of several recent research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $42.00 price target on shares of WesBanco in a research note on Thursday, July 23rd. DA Davidson set a $46.00 target price on WesBanco in a research report on Thursday, July 23rd. Zacks Research upgraded WesBanco from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WesBanco in a research note on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of WesBanco from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, WesBanco presently has an average rating of “Moderate Buy” and an average price target of $43.20.

WesBanco Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.