WesBanco, Inc. (NASDAQ:WSBC) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,419,070 shares of the financial services provider's stock after buying an additional 32,879 shares during the period. Geode Capital Management LLC owned about 2.12% of WesBanco worth $42,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. increased its position in shares of WesBanco by 3.9% during the second quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider's stock worth $485,000 after purchasing an additional 647 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of WesBanco by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider's stock valued at $13,685,000 after buying an additional 21,297 shares during the last quarter. Bailard Inc. purchased a new stake in WesBanco during the 2nd quarter valued at about $687,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in WesBanco by 14.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,453 shares of the financial services provider's stock worth $403,000 after purchasing an additional 1,836 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of WesBanco during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 61.41% of the company's stock.

Insider Activity

In other news, EVP Michael L. Perkins sold 1,125 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $34.87, for a total transaction of $39,228.75. Following the sale, the executive vice president now owns 46,817 shares of the company's stock, valued at approximately $1,632,508.79. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Raymond James raised WesBanco from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $35.00 to $44.00 in a report on Friday, December 6th. Royal Bank of Canada reiterated a "sector perform" rating and set a $35.00 price target on shares of WesBanco in a report on Monday, September 9th. Finally, Stephens boosted their price target on shares of WesBanco from $33.00 to $34.00 and gave the company an "equal weight" rating in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, WesBanco currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.83.

WesBanco Trading Up 0.4 %

Shares of NASDAQ WSBC traded up $0.14 during mid-day trading on Tuesday, reaching $33.36. 172,845 shares of the company's stock were exchanged, compared to its average volume of 271,745. The company's 50-day moving average is $33.99 and its 200-day moving average is $31.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 15.96 and a beta of 0.84. WesBanco, Inc. has a 52-week low of $25.56 and a 52-week high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. The company had revenue of $243.34 million during the quarter, compared to analyst estimates of $152.40 million. During the same quarter last year, the firm posted $0.59 earnings per share. Analysts expect that WesBanco, Inc. will post 2.14 EPS for the current fiscal year.

WesBanco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $0.37 per share. This is a positive change from WesBanco's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Friday, December 6th. WesBanco's dividend payout ratio (DPR) is currently 70.81%.

About WesBanco

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.