Peregrine Capital Management LLC boosted its holdings in shares of WesBanco Inc (NASDAQ:WSBC) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,583 shares of the financial services provider’s stock after buying an additional 3,131 shares during the period. Peregrine Capital Management LLC’s holdings in WesBanco were worth $4,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of WSBC. Norges Bank purchased a new stake in WesBanco during the 4th quarter valued at about $30,196,000. Macquarie Group Ltd. grew its stake in WesBanco by 14.6% during the 4th quarter. Macquarie Group Ltd. now owns 2,326,869 shares of the financial services provider’s stock valued at $87,932,000 after purchasing an additional 295,966 shares during the last quarter. Bank of New York Mellon Corp grew its stake in WesBanco by 60.9% during the 4th quarter. Bank of New York Mellon Corp now owns 532,520 shares of the financial services provider’s stock valued at $20,125,000 after purchasing an additional 201,477 shares during the last quarter. Geode Capital Management LLC grew its stake in WesBanco by 23.3% during the 4th quarter. Geode Capital Management LLC now owns 948,072 shares of the financial services provider’s stock valued at $35,827,000 after purchasing an additional 178,964 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in WesBanco by 220.9% during the 2nd quarter. First Trust Advisors LP now owns 195,616 shares of the financial services provider’s stock valued at $3,973,000 after purchasing an additional 134,654 shares during the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock.
In other WesBanco news, Director James W. Cornelsen sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $22.42, for a total transaction of $448,400.00. Following the transaction, the director now owns 109,113 shares in the company, valued at $2,446,313.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James W. Cornelsen sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $21.70, for a total value of $217,000.00. Following the transaction, the director now owns 188,072 shares in the company, valued at approximately $4,081,162.40. The disclosure for this sale can be found here. Insiders have sold 39,836 shares of company stock worth $883,173 in the last quarter. 3.05% of the stock is currently owned by company insiders.
Several analysts have weighed in on the company. Raymond James upgraded WesBanco from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research note on Wednesday, June 17th. B. Riley dropped their price target on WesBanco from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Piper Sandler upped their target price on WesBanco from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Zacks Investment Research downgraded WesBanco from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, ValuEngine upgraded WesBanco from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.00.
Shares of WSBC opened at $19.83 on Friday. WesBanco Inc has a 52 week low of $17.46 and a 52 week high of $39.33. The company has a quick ratio of 0.96, a current ratio of 0.95 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 10.22 and a beta of 1.02. The stock’s 50-day moving average price is $19.99 and its 200-day moving average price is $25.17.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.28). The business had revenue of $151.87 million for the quarter, compared to analysts’ expectations of $146.49 million. WesBanco had a return on equity of 4.73% and a net margin of 15.84%. As a group, equities analysts anticipate that WesBanco Inc will post 1.64 EPS for the current fiscal year.
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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