EMC Capital Management Trims Position in WesBanco, Inc. $WSBC

EMC Capital Management decreased its position in WesBanco, Inc. (NASDAQ:WSBC) by 81.7% during the second quarter, Holdings Channel reports. The fund owned 2,606 shares of the financial services provider’s stock after selling 11,630 shares during the period. EMC Capital Management’s holdings in WesBanco were worth $82,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in WSBC. Federated Hermes Inc. purchased a new stake in shares of WesBanco during the 1st quarter valued at about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in WesBanco during the second quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its holdings in WesBanco by 132.5% during the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider’s stock valued at $28,000 after buying an additional 510 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in WesBanco by 573.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,878 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 1,599 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake 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 acquiring an additional 1,895 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at WesBanco

In other news, Director F Eric Nelson, Jr. bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were bought 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 approximately $200,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO K Weiss Daniel purchased 4,000 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were purchased at an average price of $25.00 per share, with a total value of $100,000.00. Following the acquisition, the chief financial officer directly owned 4,000 shares in the company, valued at $100,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 52,921 shares of company stock worth $1,339,995. Insiders own 2.80% of the company’s stock.

WesBanco Trading Up 0.5%

WSBC stock opened at $30.42 on Thursday. 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, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The business has a 50 day simple moving average of $31.53 and a two-hundred day simple moving average of $31.53. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 15.52 and a beta of 0.89.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.05. WesBanco had a net margin of 13.91% and a return on equity of 8.55%. The firm had revenue of $261.58 million for the quarter, compared to analysts’ expectations of $263.38 million. During the same quarter last year, the business posted $0.54 earnings per share. Research analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, December 5th. This is an increase from WesBanco’s previous quarterly dividend of $0.37. WesBanco’s dividend payout ratio is presently 75.51%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. DA Davidson downgraded WesBanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Royal Bank Of Canada lifted their price objective on WesBanco from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a report on Tuesday. Finally, Wall Street Zen downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, WesBanco has an average rating of “Moderate Buy” and an average price target of $39.17.

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.