Deutsche Bank AG Makes New $3.91 Million Investment in WesBanco, Inc. $WSBC

Deutsche Bank AG bought a new stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 100,289 shares of the financial services provider's stock, valued at approximately $3,914,000. Deutsche Bank AG owned approximately 0.10% of WesBanco at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WSBC. Royal Bank of Canada grew its holdings in shares of WesBanco by 52.2% in the 1st quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider's stock worth $1,858,000 after acquiring an additional 20,585 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in WesBanco by 56.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider's stock worth $1,582,000 after purchasing an additional 18,347 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in WesBanco by 1,553.3% during the first quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider's stock worth $62,000 after purchasing an additional 1,895 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in WesBanco by 179.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider's stock worth $47,779,000 after purchasing an additional 991,584 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in WesBanco by 60.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider's stock worth $6,704,000 after purchasing an additional 81,319 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at WesBanco

In other WesBanco news, EVP Jan Pattishall-Krupinski sold 2,250 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $41.45, for a total value of $93,262.50. Following the completion of the transaction, the executive vice president directly owned 33,674 shares of the company's stock, valued at $1,395,787.30. This represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kimberly L. Griffith sold 6,875 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $41.20, for a total value of $283,250.00. Following the sale, the executive vice president owned 15,858 shares of the company's stock, valued at approximately $653,349.60. This trade represents a 30.24% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 39,695 shares of company stock worth $1,630,995. 2.07% of the stock is currently owned by insiders.

WesBanco Price Performance

WesBanco stock opened at $40.51 on Wednesday. WesBanco, Inc. has a 1 year low of $29.57 and a 1 year high of $43.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a 50 day moving average price of $40.22 and a 200 day moving average price of $36.76. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 11.78 and a beta of 0.67.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.07. WesBanco had a return on equity of 9.72% and a net margin of 23.35%.The company had revenue of $275.79 million for the quarter, compared to the consensus estimate of $267.71 million. Sell-side analysts predict that WesBanco, Inc. will post 3.57 earnings per share for the current year.

WesBanco declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 20th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a $0.38 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. WesBanco's dividend payout ratio is 44.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of WesBanco in a research report on Monday, August 3rd. DA Davidson set a $46.00 price objective on shares of WesBanco in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $42.00 target price on shares of WesBanco in a report on Thursday, July 23rd. Piper Sandler lifted their target price on shares of WesBanco from $40.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Finally, Zacks Research upgraded shares of WesBanco from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, WesBanco currently has a consensus rating of "Moderate Buy" and an average target price of $43.20.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.

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