Wesbanco Bank Inc. trimmed its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,452,477 shares of the financial services provider's stock after selling 9,216 shares during the period. WesBanco comprises about 1.6% of Wesbanco Bank Inc.'s investment portfolio, making the stock its 8th largest position. Wesbanco Bank Inc. owned about 2.17% of WesBanco worth $47,264,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of WSBC. Quarry LP boosted its position in WesBanco by 215.3% during the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider's stock worth $37,000 after purchasing an additional 913 shares during the period. Point72 Asset Management L.P. bought a new position in WesBanco in the third quarter worth about $56,000. CWM LLC boosted its holdings in shares of WesBanco by 175.2% during the third quarter. CWM LLC now owns 2,072 shares of the financial services provider's stock valued at $62,000 after acquiring an additional 1,319 shares during the period. Roble Belko & Company Inc acquired a new stake in WesBanco in the 4th quarter valued at approximately $78,000. Finally, Hilltop National Bank raised its position in shares of WesBanco by 19.6% during the 4th quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider's stock worth $82,000 after buying an additional 413 shares in the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.
WesBanco Stock Up 5.3 %
WesBanco stock traded up $1.69 during mid-day trading on Thursday, reaching $33.43. The company's stock had a trading volume of 734,631 shares, compared to its average volume of 392,045. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 16.00 and a beta of 0.85. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $37.36. The business's 50 day simple moving average is $33.75 and its 200 day simple moving average is $32.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93.
WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. As a group, research analysts anticipate that WesBanco, Inc. will post 2.14 earnings per share for the current year.
WesBanco Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.43%. This is a positive change from WesBanco's previous quarterly dividend of $0.36. The ex-dividend date was Friday, December 6th. WesBanco's payout ratio is presently 70.81%.
Insider Activity at WesBanco
In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of WesBanco stock in a transaction on Friday, November 8th. The shares were sold at an average price of $34.87, for a total transaction of $39,228.75. Following the transaction, the executive vice president now directly owns 46,817 shares of the company's stock, valued at $1,632,508.79. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.44% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Raymond James raised shares of WesBanco from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. Stephens reaffirmed an "equal weight" rating and issued a $39.00 price target on shares of WesBanco in a research report on Thursday. Three investment 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.67.
Get Our Latest Stock Analysis on WesBanco
WesBanco Profile
(
Free Report)
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.
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