Envestnet Asset Management Inc. Grows Position in WesBanco, Inc. $WSBC

Envestnet Asset Management Inc. grew its position in WesBanco, Inc. (NASDAQ:WSBC) by 5.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 271,764 shares of the financial services provider’s stock after acquiring an additional 13,082 shares during the quarter. Envestnet Asset Management Inc.’s holdings in WesBanco were worth $8,596,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new stake in WesBanco during the first quarter worth approximately $1,123,000. Bank of New York Mellon Corp lifted its holdings in shares of WesBanco by 29.8% during the 1st quarter. Bank of New York Mellon Corp now owns 749,178 shares of the financial services provider’s stock valued at $23,195,000 after acquiring an additional 171,826 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of WesBanco by 11.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 11,762 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 1,222 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in WesBanco by 67.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 11,907 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 4,800 shares during the period. Finally, Allworth Financial LP increased its holdings in WesBanco by 45.4% in the 1st quarter. Allworth Financial LP now owns 3,586 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 1,119 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

Analysts Set New Price Targets

WSBC has been the topic of a number of recent research reports. DA Davidson cut WesBanco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Wall Street Zen lowered WesBanco from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Royal Bank Of Canada increased their price objective on shares of WesBanco from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of WesBanco in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.17.

Insider Buying and Selling at WesBanco

In other news, Director Todd Clossin bought 8,000 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was bought at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the transaction, the director owned 8,000 shares in the company, valued at $200,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO K Weiss Daniel purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the chief financial officer owned 4,000 shares in the company, valued at approximately $100,000. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 52,921 shares of company stock valued at $1,339,995. Corporate insiders own 2.80% of the company’s stock.

WesBanco Stock Performance

WesBanco stock opened at $30.90 on Monday. WesBanco, Inc. has a 52 week low of $26.42 and a 52 week 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 market cap of $2.97 billion, a P/E ratio of 15.77 and a beta of 0.89. The stock has a 50 day moving average of $31.76 and a 200-day moving average of $31.49.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results 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 period in the prior year, the company posted $0.54 earnings per share. On average, analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders 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 annualized dividend and a dividend yield of 4.8%. WesBanco’s dividend payout ratio (DPR) is presently 75.51%.

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.