JPMorgan Chase & Co. boosted its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 17.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 232,568 shares of the financial services provider's stock after buying an additional 34,008 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.35% of WesBanco worth $6,926,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of WSBC. Quarry LP increased its position in WesBanco by 215.3% in the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider's stock worth $37,000 after buying an additional 913 shares during the period. Point72 Asset Management L.P. bought a new stake in WesBanco in the 3rd quarter valued at $56,000. CWM LLC grew its position in WesBanco by 175.2% in the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider's stock worth $62,000 after purchasing an additional 1,319 shares during the last quarter. nVerses Capital LLC bought a new position in shares of WesBanco during the 3rd quarter worth about $80,000. Finally, Point72 DIFC Ltd acquired a new position in shares of WesBanco during the third quarter valued at about $147,000. Institutional investors own 61.41% of the company's stock.
WesBanco Price Performance
Shares of WSBC stock traded down $0.44 during trading hours on Thursday, hitting $31.71. The company had a trading volume of 314,016 shares, compared to its average volume of 357,222. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $37.36. 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's fifty day moving average is $34.17 and its 200 day moving average is $31.89. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 15.17 and a beta of 0.85.
WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. WesBanco had a return on equity of 5.75% and a net margin of 14.79%. The firm had revenue of $243.34 million for the quarter, compared to analysts' expectations of $152.40 million. During the same period in the prior year, the business posted $0.59 earnings per share. On average, sell-side analysts predict 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 was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a dividend of $0.37 per share. This is an increase from WesBanco's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 4.67%. The ex-dividend date was Friday, December 6th. WesBanco's dividend payout ratio (DPR) is currently 70.81%.
Wall Street Analyst Weigh In
WSBC has been the topic of a number of recent research reports. Stephens lifted their target price on WesBanco from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Monday, October 28th. Raymond James upgraded WesBanco from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $35.00 to $44.00 in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.83.
View Our Latest Analysis on WSBC
Insider Buying and Selling at WesBanco
In related news, EVP Michael L. Perkins sold 1,125 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $34.87, for a total transaction of $39,228.75. Following the completion of the sale, the executive vice president now directly owns 46,817 shares of the company's stock, valued at $1,632,508.79. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.44% of the company's stock.
About WesBanco
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Free Report)
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.
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