Bank of America Corp DE grew its position in WesBanco, Inc. (NASDAQ:WSBC – Get Rating) by 3.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,046,957 shares of the financial services provider's stock after buying an additional 30,770 shares during the period. Bank of America Corp DE owned 1.74% of WesBanco worth $35,974,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of WesBanco in the 1st quarter valued at $337,000. MCF Advisors LLC acquired a new stake in shares of WesBanco during the first quarter worth $33,000. M&T Bank Corp grew its stake in shares of WesBanco by 4.7% during the first quarter. M&T Bank Corp now owns 8,292 shares of the financial services provider's stock worth $285,000 after purchasing an additional 374 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of WesBanco by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,271,700 shares of the financial services provider's stock worth $146,777,000 after purchasing an additional 38,103 shares during the period. Finally, Barclays PLC grew its stake in shares of WesBanco by 45.6% during the fourth quarter. Barclays PLC now owns 158,827 shares of the financial services provider's stock worth $5,558,000 after purchasing an additional 49,763 shares during the period. 58.36% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Janney Montgomery Scott assumed coverage on WesBanco in a research note on Tuesday, September 6th. They set a "neutral" rating and a $37.00 price objective for the company. B. Riley decreased their price objective on WesBanco from $32.00 to $29.00 in a research note on Monday, July 11th. Finally, DA Davidson reaffirmed a "buy" rating on shares of WesBanco in a research note on Wednesday, July 27th.
Insider Activity
In other news, Director Joseph R. Robinson purchased 2,000 shares of the business's stock in a transaction dated Thursday, September 15th. The shares were bought at an average cost of $30.30 per share, for a total transaction of $60,600.00. Following the completion of the acquisition, the director now directly owns 7,347 shares in the company, valued at approximately $222,614.10. The purchase was disclosed in a filing with the SEC, which can be accessed through
this link. Corporate insiders own 3.15% of the company's stock.
WesBanco Stock Performance
WSBC stock opened at $33.37 on Friday. The business's 50-day moving average price is $34.67 and its two-hundred day moving average price is $33.58. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.01 billion, a PE ratio of 11.88 and a beta of 0.90. WesBanco, Inc. has a 1-year low of $29.50 and a 1-year high of $38.37.
WesBanco (NASDAQ:WSBC – Get Rating) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.01). The business had revenue of $139.21 million for the quarter, compared to the consensus estimate of $146.27 million. WesBanco had a return on equity of 7.63% and a net margin of 31.53%. As a group, research analysts forecast that WesBanco, Inc. will post 2.96 earnings per share for the current year.
WesBanco Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a $0.34 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.08%. WesBanco's dividend payout ratio (DPR) is 48.40%.
WesBanco Company Profile
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WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit.
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