F M Investments LLC Invests $7.73 Million in WesBanco, Inc. (NASDAQ:WSBC)

F M Investments LLC acquired a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 259,414 shares of the financial services provider's stock, valued at approximately $7,726,000. F M Investments LLC owned 0.39% of WesBanco at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of WSBC. BNP Paribas Financial Markets grew its holdings in WesBanco by 43.3% in the 1st quarter. BNP Paribas Financial Markets now owns 34,350 shares of the financial services provider's stock valued at $1,024,000 after buying an additional 10,375 shares in the last quarter. Avalon Advisory Group bought a new position in WesBanco during the first quarter worth about $247,000. Empowered Funds LLC raised its stake in WesBanco by 8.2% in the 1st quarter. Empowered Funds LLC now owns 163,952 shares of the financial services provider's stock worth $4,887,000 after purchasing an additional 12,392 shares in the last quarter. SG Americas Securities LLC bought a new stake in WesBanco in the 1st quarter valued at about $212,000. Finally, Smithfield Trust Co grew its position in shares of WesBanco by 0.9% during the 1st quarter. Smithfield Trust Co now owns 49,575 shares of the financial services provider's stock worth $1,478,000 after purchasing an additional 423 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of WesBanco from $30.00 to $34.00 and gave the company a "market perform" rating in a research report on Thursday, August 1st. Stephens upped their target price on WesBanco from $33.00 to $34.00 and gave the company an "equal weight" rating in a research report on Monday, October 28th. Hovde Group raised 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 upped their price objective 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. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $35.00 price objective on shares of WesBanco in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $36.17.

Insider Activity

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the company's stock in a transaction dated Tuesday, August 6th. The stock was 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 in the company, valued at approximately $1,413,405.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.44% of the company's stock.

WesBanco Price Performance

Shares of NASDAQ WSBC traded up $0.10 during midday trading on Friday, reaching $31.55. 443,262 shares of the company were exchanged, compared to its average volume of 332,668. The stock's 50-day moving average price is $30.63 and its 200-day moving average price is $29.44. The stock has a market cap of $2.11 billion, a P/E ratio of 15.10 and a beta of 0.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. WesBanco, Inc. has a one year low of $24.55 and a one year high of $34.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. WesBanco had a return on equity of 5.91% and a net margin of 14.79%. The company had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. During the same quarter last year, the business posted $0.59 EPS. On average, sell-side analysts anticipate that WesBanco, Inc. will post 2.12 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.56%. The ex-dividend date was Friday, September 6th. WesBanco's dividend payout ratio (DPR) is currently 68.90%.

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.