Readystate Asset Management LP Makes New $661,000 Investment in WesBanco, Inc. (NASDAQ:WSBC)

Readystate Asset Management LP bought a new position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,210 shares of the financial services provider's stock, valued at approximately $661,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Inspire Investing LLC boosted its holdings in shares of WesBanco by 4.6% in the second quarter. Inspire Investing LLC now owns 12,630 shares of the financial services provider's stock valued at $353,000 after acquiring an additional 560 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of WesBanco by 3.9% in the second quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider's stock valued at $485,000 after acquiring an additional 647 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of WesBanco by 3.9% in the third quarter. Harbor Capital Advisors Inc. now owns 17,590 shares of the financial services provider's stock valued at $524,000 after acquiring an additional 668 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of WesBanco by 3.0% in the third quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider's stock valued at $895,000 after acquiring an additional 867 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of WesBanco by 215.3% in the second quarter. Quarry LP now owns 1,337 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 913 shares in the last quarter. Institutional investors own 61.41% of the company's stock.

Insider Transactions at WesBanco

In related news, EVP Michael L. Perkins sold 1,125 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the transaction, the executive vice president now directly owns 46,817 shares in the company, valued at approximately $1,632,508.79. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.44% of the stock is currently owned by company insiders.

WesBanco Trading Up 3.3 %

Shares of NASDAQ:WSBC traded up $1.16 during mid-day trading on Friday, hitting $36.32. The stock had a trading volume of 616,823 shares, compared to its average volume of 256,543. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $2.43 billion, a PE ratio of 17.38 and a beta of 0.84. The company's 50 day moving average is $32.67 and its 200-day moving average is $30.61.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. The company had revenue of $243.34 million during the quarter, compared to the consensus estimate of $152.40 million. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, sell-side analysts predict that WesBanco, Inc. will post 2.14 EPS for the current year.

WesBanco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.37 per share. This is a positive change from WesBanco's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.48 annualized dividend and a dividend yield of 4.07%. WesBanco's dividend payout ratio is 70.81%.

Analyst Ratings Changes

WSBC has been the subject of several recent analyst reports. Stephens increased their price objective on shares of WesBanco from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Monday, October 28th. Royal Bank of Canada reissued a "sector perform" rating and set a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. Finally, Raymond James raised shares of WesBanco from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $35.00 to $44.00 in a research note on Friday. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.83.

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.