SummerHaven Investment Management LLC Has $977,000 Stake in WesBanco, Inc. $WSBC

SummerHaven Investment Management LLC increased its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,888 shares of the financial services provider’s stock after purchasing an additional 495 shares during the quarter. SummerHaven Investment Management LLC’s holdings in WesBanco were worth $977,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in WesBanco by 58.8% during the first quarter. Swiss National Bank now owns 185,977 shares of the financial services provider’s stock worth $5,758,000 after purchasing an additional 68,832 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in WesBanco by 258.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider’s stock worth $1,215,000 after purchasing an additional 28,302 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in WesBanco by 7.1% during the first quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider’s stock worth $8,009,000 after purchasing an additional 17,172 shares during the last quarter. LPL Financial LLC boosted its holdings in WesBanco by 44.9% during the first quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider’s stock worth $1,982,000 after purchasing an additional 19,836 shares during the last quarter. Finally, Keybank National Association OH acquired a new position in WesBanco during the first quarter worth $2,108,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Price Performance

Shares of WSBC opened at $32.33 on Monday. The firm has a market capitalization of $3.10 billion, a PE ratio of 19.48 and a beta of 0.85. The company’s 50-day moving average is $31.60 and its 200-day moving average is $31.08. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $260.73 million for the quarter, compared to analyst estimates of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. During the same period in the prior year, the firm earned $0.49 earnings per share. Equities analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, September 5th. WesBanco’s dividend payout ratio (DPR) is currently 89.16%.

Insider Buying and Selling at WesBanco

In other WesBanco news, Director James W. Cornelsen purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were acquired at an average cost of $25.00 per share, with a total value of $250,000.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $250,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director F Eric Nelson, Jr. purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the transaction, the director owned 8,000 shares of the company’s stock, valued at $200,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 49,600 shares of company stock valued at $1,240,000 in the last quarter. Company insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of WesBanco from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.83.

About WesBanco

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.