Wesbanco Bank Inc. Sells 220,932 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Wesbanco Bank Inc. decreased its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,461,693 shares of the financial services provider's stock after selling 220,932 shares during the period. WesBanco comprises 1.5% of Wesbanco Bank Inc.'s portfolio, making the stock its 11th biggest holding. Wesbanco Bank Inc. owned about 2.46% of WesBanco worth $43,529,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its stake in shares of WesBanco by 105.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider's stock valued at $1,038,000 after acquiring an additional 17,345 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of WesBanco in the first quarter valued at approximately $3,555,000. Bank of New York Mellon Corp raised its stake 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 acquiring an additional 21,297 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of WesBanco in the first quarter valued at approximately $212,000. Finally, Sei Investments Co. raised its stake in shares of WesBanco by 1.7% in the first quarter. Sei Investments Co. now owns 209,011 shares of the financial services provider's stock valued at $6,231,000 after acquiring an additional 3,425 shares during the last quarter. Institutional investors own 61.41% of the company's stock.

Insider Activity at WesBanco

In other news, EVP Michael L. Perkins sold 5,363 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total transaction of $161,908.97. Following the transaction, the executive vice president now directly owns 46,817 shares in the company, valued at $1,413,405.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.44% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada reissued a "sector perform" rating and issued a $35.00 price target on shares of WesBanco in a report on Monday, September 9th. DA Davidson raised their price target on shares of WesBanco from $35.00 to $42.00 and gave the company a "buy" rating in a report on Monday, July 29th. Stephens raised their price target on shares of WesBanco from $27.00 to $34.00 and gave the company an "equal weight" rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods lifted their target price on shares of WesBanco from $30.00 to $34.00 and gave the stock a "market perform" rating in a report on Thursday, August 1st. Finally, Hovde Group lifted their target price on shares of WesBanco from $34.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $34.71.

WesBanco Trading Up 0.5 %

Shares of NASDAQ WSBC traded up $0.16 during midday trading on Tuesday, reaching $30.67. 387,609 shares of the stock were exchanged, compared to its average volume of 230,893. The business has a 50-day simple moving average of $30.45 and a two-hundred day simple moving average of $29.18. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 12.78 and a beta of 0.82. WesBanco, Inc. has a 12 month low of $23.00 and a 12 month high of $34.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.94.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $234.35 million during 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 earnings per share. As a group, equities research analysts expect that WesBanco, Inc. will post 2.06 EPS for the current year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $0.36 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.44 annualized dividend and a yield of 4.70%. WesBanco's dividend payout ratio is currently 60.00%.

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.