Inspire Advisors LLC bought a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,741 shares of the financial services provider's stock, valued at approximately $1,416,000. Inspire Advisors LLC owned approximately 0.09% of WesBanco at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Signaturefd LLC raised its stake in WesBanco by 214.5% during the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider's stock worth $39,000 after acquiring an additional 944 shares in the last quarter. Principal Securities Inc. acquired a new position in WesBanco during the fourth quarter worth $43,000. Innealta Capital LLC acquired a new position in WesBanco during the second quarter worth $53,000. International Assets Investment Management LLC acquired a new position in WesBanco during the second quarter worth $91,000. Finally, TFO Wealth Partners LLC increased its stake in shares of WesBanco by 26,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider's stock valued at $99,000 after buying an additional 3,144 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
WSBC has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price on WesBanco from $30.00 to $34.00 and gave the company a "market perform" rating in a research note on Thursday, August 1st. DA Davidson raised their target price on WesBanco from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Hovde Group raised their target price on WesBanco from $34.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. Stephens raised their target price on WesBanco from $27.00 to $34.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, WesBanco presently has an average rating of "Hold" and an average price target of $34.71.
Check Out Our Latest Stock Analysis on WesBanco
WesBanco Trading Up 2.6 %
WesBanco stock traded up $0.78 during mid-day trading on Friday, hitting $30.82. The stock had a trading volume of 178,200 shares, compared to its average volume of 227,780. The stock has a 50-day simple moving average of $31.06 and a two-hundred day simple moving average of $29.03. The stock has a market capitalization of $1.84 billion, a PE ratio of 12.84 and a beta of 0.83. WesBanco, Inc. has a 12 month low of $23.00 and a 12 month high of $34.85. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.73.
WesBanco (NASDAQ:WSBC - Get Free Report) last issued its earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). WesBanco had a return on equity of 5.90% and a net margin of 15.22%. The company had revenue of $234.35 million for the quarter, compared to the consensus estimate of $148.40 million. During the same quarter last year, the business posted $0.71 EPS. As a group, sell-side analysts forecast that WesBanco, Inc. will post 2.07 EPS for the current year.
WesBanco Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Friday, September 6th. WesBanco's dividend payout ratio (DPR) is currently 60.00%.
Insiders Place Their Bets
In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total transaction of $161,908.97. Following the transaction, the executive vice president now owns 46,817 shares in the company, valued at $1,413,405.23. The sale was disclosed in a document filed with the SEC, which is available through this link. 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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