WesBanco, Inc. (NASDAQ:WSBC) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 44.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,660 shares of the financial services provider's stock after selling 53,585 shares during the quarter. Edgestream Partners L.P. owned 0.11% of WesBanco worth $1,833,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WSBC. Smithfield Trust Co boosted its holdings in shares of WesBanco by 0.9% in the first quarter. Smithfield Trust Co now owns 49,575 shares of the financial services provider's stock worth $1,478,000 after buying an additional 423 shares during the last quarter. Founders Financial Securities LLC grew its position in shares of WesBanco by 6.1% during the 1st quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider's stock valued at $227,000 after acquiring an additional 436 shares during the period. Raymond James Trust N.A. increased its stake in shares of WesBanco by 3.9% in the 2nd 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. US Bancorp DE raised its holdings in WesBanco by 1.0% in the 4th quarter. US Bancorp DE now owns 63,263 shares of the financial services provider's stock worth $1,985,000 after purchasing an additional 657 shares during the period. Finally, Bridge City Capital LLC lifted its position in WesBanco by 0.8% during the first quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider's stock valued at $2,522,000 after purchasing an additional 663 shares in the last quarter. Institutional investors own 61.41% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total value of $161,908.97. Following the completion of the sale, the executive vice president now directly owns 46,817 shares in the company, valued at $1,413,405.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.44% of the company's stock.

WesBanco Trading Down 3.2 %

WesBanco stock traded down $1.01 during midday trading on Friday, reaching $30.52. The stock had a trading volume of 1,362,898 shares, compared to its average volume of 224,981. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 12.85 and a beta of 0.83. WesBanco, Inc. has a 52-week low of $23.00 and a 52-week high of $34.85. The company has a fifty day moving average of $31.29 and a 200 day moving average of $29.10.

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

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.72%. WesBanco's dividend payout ratio is presently 60.00%.

WesBanco 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.