43,970 Shares in WesBanco, Inc. $WSBC Purchased by Gator Capital Management LLC

Gator Capital Management LLC bought a new position in shares of WesBanco, Inc. (NASDAQ:WSBCFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 43,970 shares of the financial services provider’s stock, valued at approximately $1,462,000.

Several other institutional investors and hedge funds have also bought and sold shares of WSBC. Royal Bank of Canada increased its position in WesBanco by 52.2% during the first quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider’s stock worth $1,858,000 after buying an additional 20,585 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in WesBanco by 56.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider’s stock worth $1,582,000 after buying an additional 18,347 shares during the last quarter. Jones Financial Companies Lllp increased its position in WesBanco by 1,553.3% during the first quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock worth $62,000 after buying an additional 1,895 shares during the last quarter. Goldman Sachs Group Inc. increased its position in WesBanco by 179.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock worth $47,779,000 after buying an additional 991,584 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in WesBanco by 60.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider’s stock worth $6,704,000 after buying an additional 81,319 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joseph R. Robinson acquired 1,000 shares of the stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $34.54 per share, for a total transaction of $34,540.00. Following the purchase, the director directly owned 19,068 shares in the company, valued at approximately $658,608.72. The trade was a 5.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lee J. Burdman acquired 3,000 shares of the stock in a transaction 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 approximately $1,571,539.20. This trade represents a 6.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 7,940 shares of company stock worth $267,299 in the last 90 days. Company insiders own 2.07% of the company’s stock.

WesBanco Price Performance

WesBanco stock opened at $36.77 on Friday. WesBanco, Inc. has a 12 month low of $29.18 and a 12 month high of $38.10. The stock’s 50 day moving average is $34.75 and its 200-day moving average is $34.60. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 11.86 and a beta of 0.68.

WesBanco (NASDAQ:WSBCGet Free Report) last posted its quarterly earnings data 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 firm had revenue of $257.23 million for the quarter, compared to analyst estimates of $264.52 million. During the same quarter last year, the company earned $0.66 EPS. The company’s revenue was down 3.1% on a year-over-year basis. Equities research analysts expect that WesBanco, Inc. will post 3.59 EPS for the current year.

WesBanco declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 20th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, June 5th. WesBanco’s dividend payout ratio (DPR) is 49.03%.

Wall Street Analyst Weigh In

WSBC has been the topic of a number of recent analyst reports. Weiss Ratings raised WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. DA Davidson reissued a “buy” rating and set a $41.00 price target on shares of WesBanco in a research report on Wednesday, April 22nd. Zacks Research downgraded WesBanco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Raymond James Financial reissued a “strong-buy” rating and set a $41.00 price target on shares of WesBanco in a research report on Thursday, March 12th. Finally, Piper Sandler lowered their price target on WesBanco from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Check Out Our Latest Report 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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