WesBanco, Inc. $WSBC Shares Acquired by IFP Advisors Inc

IFP Advisors Inc increased its stake in WesBanco, Inc. (NASDAQ:WSBC) by 2.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,479 shares of the financial services provider’s stock after acquiring an additional 626 shares during the quarter. IFP Advisors Inc’s holdings in WesBanco were worth $774,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of WesBanco by 40.3% in the 1st quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider’s stock worth $291,427,000 after acquiring an additional 2,702,469 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of WesBanco by 42.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider’s stock worth $179,358,000 after acquiring an additional 1,730,801 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of WesBanco by 35.2% in the 1st quarter. Wellington Management Group LLP now owns 2,456,454 shares of the financial services provider’s stock worth $76,052,000 after acquiring an additional 640,003 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of WesBanco by 4.6% during the first quarter. Earnest Partners LLC now owns 1,859,436 shares of the financial services provider’s stock valued at $57,568,000 after buying an additional 82,434 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its holdings in shares of WesBanco by 9.6% during the second quarter. Wesbanco Bank Inc. now owns 1,565,869 shares of the financial services provider’s stock valued at $49,528,000 after buying an additional 136,975 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Price Performance

WSBC opened at $32.40 on Tuesday. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 19.52 and a beta of 0.85. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.36. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $31.86 and a 200 day moving average price of $31.14.

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

WesBanco Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WSBC. Weiss Ratings reiterated a “hold (c)” rating on shares of WesBanco in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on WesBanco from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Wall Street Zen downgraded WesBanco from a “buy” rating to a “hold” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.17.

Insider Activity

In related news, Director F Eric Nelson, Jr. purchased 8,000 shares of WesBanco stock in a transaction on Wednesday, September 17th. The stock was bought at an average price of $25.00 per share, with a total value of $200,000.00. Following the completion of the transaction, the director directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory S. Proctor, Jr. purchased 2,000 shares of WesBanco stock in a transaction on Wednesday, September 17th. The stock was bought at an average cost of $25.00 per share, with a total value of $50,000.00. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at approximately $50,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 49,600 shares of company stock valued at $1,240,000. 2.80% of the stock is currently owned by company insiders.

WesBanco Company Profile

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.