Susquehanna Fundamental Investments LLC cut its holdings in WesBanco, Inc. (NASDAQ:WSBC – Free Report) by 50.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,085 shares of the financial services provider’s stock after selling 22,189 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in WesBanco were worth $862,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of WSBC. Vanguard Group Inc. raised its position in shares of WesBanco by 2.3% during the 4th 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. BlackRock Inc. acquired a new stake in WesBanco during the 2nd quarter valued at $363,992,000. Dimensional Fund Advisors LP grew its holdings in WesBanco by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,451,344 shares of the financial services provider’s stock valued at $188,013,000 after buying an additional 59,077 shares during the last quarter. State Street Corp increased its position in WesBanco by 0.4% during the second quarter. State Street Corp now owns 3,663,315 shares of the financial services provider’s stock worth $117,109,000 after buying an additional 14,147 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of WesBanco by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 2,764,222 shares of the financial services provider’s stock worth $91,883,000 after acquiring an additional 332,585 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at WesBanco
In other news, EVP Jan Pattishall-Krupinski sold 2,250 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $41.45, for a total transaction of $93,262.50. Following the completion of the transaction, the executive vice president owned 33,674 shares of the company’s stock, valued at $1,395,787.30. This represents a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kimberly L. Griffith sold 6,875 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $41.20, for a total transaction of $283,250.00. Following the completion of the sale, the executive vice president directly owned 15,858 shares in the company, valued at $653,349.60. This represents a 30.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 39,695 shares of company stock worth $1,630,995 in the last quarter. 2.07% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on WesBanco
WesBanco Trading Down 1.3%
Shares of WSBC opened at $39.48 on Wednesday. WesBanco, Inc. has a fifty-two week low of $29.57 and a fifty-two week high of $43.02. The company has a market capitalization of $3.79 billion, a PE ratio of 11.48 and a beta of 0.66. The stock has a fifty day moving average of $40.59 and a two-hundred day moving average of $36.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.94.
WesBanco (NASDAQ:WSBC – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.07. The business had revenue of $275.79 million for the quarter, compared to analysts’ expectations of $267.71 million. WesBanco had a return on equity of 9.72% and a net margin of 23.35%. As a group, analysts forecast that WesBanco, Inc. will post 3.57 EPS for the current year.
WesBanco declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 20th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
WesBanco Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, September 4th. This represents a $1.52 annualized dividend and a yield of 3.9%. WesBanco’s dividend payout ratio is 44.19%.
About WesBanco
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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