Wesbanco Bank Inc. Sells 29,481 Shares of WesBanco, Inc. $WSBC

Wesbanco Bank Inc. lessened its stake in shares of WesBanco, Inc. (NASDAQ:WSBCFree Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,540,794 shares of the financial services provider’s stock after selling 29,481 shares during the quarter. WesBanco comprises about 1.5% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 11th biggest holding. Wesbanco Bank Inc. owned 1.60% of WesBanco worth $53,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in WSBC. Vanguard Group Inc. boosted its holdings in WesBanco by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 9,819,476 shares of the financial services provider’s stock worth $326,399,000 after purchasing an additional 224,107 shares during the last quarter. Citigroup Inc. grew its position in WesBanco by 14.2% in the 3rd quarter. Citigroup Inc. now owns 162,667 shares of the financial services provider’s stock worth $5,194,000 after purchasing an additional 20,269 shares during the period. Gator Capital Management LLC purchased a new stake in WesBanco during the 4th quarter valued at $1,462,000. Aristotle Capital Boston LLC purchased a new stake in WesBanco during the 4th quarter valued at $11,279,000. Finally, SG Americas Securities LLC lifted its holdings in shares of WesBanco by 84.4% during the 4th quarter. SG Americas Securities LLC now owns 39,608 shares of the financial services provider’s stock valued at $1,317,000 after buying an additional 18,131 shares during the period. 61.41% of the stock is currently owned by institutional investors.

WesBanco Trading Up 0.7%

Shares of WSBC stock opened at $38.80 on Friday. WesBanco, Inc. has a 1 year low of $29.18 and a 1 year high of $39.25. The firm has a fifty day moving average price of $35.00 and a 200-day moving average price of $34.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 12.52 and a beta of 0.68.

WesBanco (NASDAQ:WSBCGet Free Report) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The company had revenue of $257.23 million for the quarter, compared to analysts’ expectations of $264.52 million. During the same period last year, the firm earned $0.66 EPS. WesBanco’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts predict that WesBanco, Inc. will post 3.59 earnings per share for the current year.

WesBanco declared that its board has authorized a share repurchase program on Wednesday, May 20th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, June 5th. WesBanco’s payout ratio is presently 49.03%.

Insider Buying and Selling

In other news, Director Lee J. Burdman bought 3,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were bought at an average price of $33.60 per share, for a total transaction of $100,800.00. Following the purchase, the director owned 46,772 shares in the company, valued at $1,571,539.20. This represents a 6.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jan Pattishall-Krupinski sold 4,500 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $36.71, for a total value of $165,195.00. Following the completion of the sale, the executive vice president owned 35,924 shares of the company’s stock, valued at $1,318,770.04. The trade was a 11.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought 7,000 shares of company stock valued at $236,500 in the last 90 days. Corporate insiders own 2.07% of the company’s stock.

Analyst Upgrades and Downgrades

WSBC has been the topic of a number of research reports. Piper Sandler raised their price target on WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday. DA Davidson reissued a “buy” rating and issued a $41.00 target price on shares of WesBanco in a report on Wednesday, April 22nd. Raymond James Financial reissued a “strong-buy” rating and issued a $41.00 target price on shares of WesBanco in a research report on Thursday, March 12th. Zacks Research upgraded WesBanco from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings raised shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.25.

View Our Latest Stock Analysis on WSBC

WesBanco Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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