DiNuzzo Private Wealth Inc. Acquires 21,803 Shares of WesBanco, Inc. (NASDAQ:WSBC)

DiNuzzo Private Wealth Inc. grew its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 2,090.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,846 shares of the financial services provider's stock after buying an additional 21,803 shares during the period. DiNuzzo Private Wealth Inc.'s holdings in WesBanco were worth $680,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Quarry LP raised its position in shares of WesBanco by 215.3% in the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 913 shares during the last quarter. Signaturefd LLC raised its position in shares of WesBanco by 214.5% in the 2nd quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 944 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of WesBanco in the 2nd quarter valued at approximately $53,000. CWM LLC raised its position in shares of WesBanco by 175.2% in the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 1,319 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of WesBanco in the 3rd quarter valued at approximately $80,000. 61.41% of the stock is currently owned by institutional investors.

Insider Activity at WesBanco

In related news, EVP Michael L. Perkins sold 5,363 shares of WesBanco stock in a transaction 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 sale, the executive vice president now owns 46,817 shares of the company's stock, valued at approximately $1,413,405.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.44% of the stock is owned by corporate insiders.

WesBanco Stock Performance

Shares of NASDAQ:WSBC traded down $0.43 during trading on Friday, hitting $31.46. 340,104 shares of the stock traded hands, compared to its average volume of 233,084. 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 company has a market cap of $2.10 billion, a price-to-earnings ratio of 14.97 and a beta of 0.82. The company has a fifty day moving average price of $30.52 and a two-hundred day moving average price of $29.22. WesBanco, Inc. has a 52-week low of $23.00 and a 52-week high of $34.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly 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 net margin of 15.22% and a return on equity of 5.90%. The company had revenue of $234.35 million during the quarter, compared to analyst estimates of $148.40 million. During the same period in the prior year, the business posted $0.71 EPS. As a group, equities analysts predict that WesBanco, Inc. will post 2.06 EPS for the current year.

WesBanco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $0.36 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.58%. WesBanco's dividend payout ratio is currently 67.61%.

Wall Street Analyst Weigh In

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

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.