Victory Capital Management Inc. Decreases Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Victory Capital Management Inc. lessened its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 41.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 174,357 shares of the financial services provider's stock after selling 124,984 shares during the period. Victory Capital Management Inc. owned about 0.29% of WesBanco worth $4,866,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WSBC. Rhumbline Advisers boosted its stake in WesBanco by 1.3% in the second quarter. Rhumbline Advisers now owns 98,255 shares of the financial services provider's stock valued at $2,742,000 after acquiring an additional 1,265 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of WesBanco in the second quarter worth $91,000. Signaturefd LLC raised its stake in shares of WesBanco by 214.5% in the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider's stock worth $39,000 after purchasing an additional 944 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of WesBanco during the second quarter worth about $53,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in WesBanco by 14.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,453 shares of the financial services provider's stock valued at $403,000 after buying an additional 1,836 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WSBC has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of WesBanco from $30.00 to $34.00 and gave the stock a "market perform" rating in a research note on Thursday, August 1st. Hovde Group increased their price target on WesBanco from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. DA Davidson boosted their price objective on WesBanco from $35.00 to $42.00 and gave the company a "buy" rating in a report on Monday, July 29th. Stephens upped their target price on WesBanco from $27.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $35.00 price target on shares of WesBanco in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $34.71.

WesBanco Price Performance

WSBC stock traded up $0.16 during mid-day trading on Tuesday, reaching $31.20. 190,845 shares of the company's stock were exchanged, compared to its average volume of 214,760. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 12.98 and a beta of 0.83. The stock's 50 day moving average is $31.14 and its 200 day moving average is $29.05. WesBanco, Inc. has a 12-month low of $23.00 and a 12-month high of $34.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). The company had revenue of $234.35 million for the quarter, compared to analyst estimates of $148.40 million. WesBanco had a return on equity of 5.90% and a net margin of 15.22%. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, research analysts expect that WesBanco, Inc. will post 2.07 EPS for the current year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.62%. WesBanco's dividend payout ratio (DPR) is presently 60.00%.

Insider Transactions at WesBanco

In related news, EVP Michael L. Perkins sold 5,363 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total value of $161,908.97. Following the completion of the transaction, the executive vice president now directly owns 46,817 shares of the company's stock, valued at approximately $1,413,405.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.44% of the company's stock.

WesBanco Company Profile

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.