Dimensional Fund Advisors LP Acquires 59,077 Shares of WesBanco, Inc. $WSBC

Key Points

• Dimensional Fund Advisors LP increased its WesBanco stake by 1.1% in the first quarter, buying 59,077 shares and bringing its holdings to 5.45 million shares worth about $188 million.
• WesBanco reported better-than-expected quarterly results, posting $0.92 EPS on revenue of $275.79 million, while analysts currently rate the stock a “Moderate Buy” with an average price target of $43.20.
• The bank also approved a 4 million-share repurchase program and recently paid a $0.38 quarterly dividend, implying an annualized yield of 3.7%.

Dimensional Fund Advisors LP boosted its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 1.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,451,344 shares of the financial services provider's stock after buying an additional 59,077 shares during the period. Dimensional Fund Advisors LP owned approximately 5.67% of WesBanco worth $188,013,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WSBC. KBC Group NV raised its holdings in WesBanco by 38.0% during the first quarter. KBC Group NV now owns 3,749 shares of the financial services provider's stock worth $129,000 after buying an additional 1,033 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of WesBanco by 1.9% during the first quarter. D.A. Davidson & CO. now owns 22,489 shares of the financial services provider's stock valued at $776,000 after buying an additional 424 shares during the last quarter. AMG National Trust Bank increased its position in shares of WesBanco by 31.7% during the first quarter. AMG National Trust Bank now owns 14,535 shares of the financial services provider's stock worth $501,000 after acquiring an additional 3,500 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of WesBanco by 230.9% in the 1st quarter. Fifth Third Bancorp now owns 14,227 shares of the financial services provider's stock worth $491,000 after acquiring an additional 9,927 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in shares of WesBanco by 14.6% in the 1st quarter. Kestra Advisory Services LLC now owns 9,615 shares of the financial services provider's stock worth $332,000 after acquiring an additional 1,224 shares during the last quarter. Institutional investors own 61.41% of the company's stock.

Insider Activity

In related news, EVP Jan Pattishall-Krupinski sold 4,500 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $36.71, for a total value of $165,195.00. Following the completion of the sale, the executive vice president owned 35,924 shares in the company, valued at $1,318,770.04. The trade was a 11.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph R. Robinson acquired 1,000 shares of the stock in a transaction on Monday, April 27th. The shares were purchased at an average cost of $34.54 per share, with a total value of $34,540.00. Following the transaction, the director directly owned 19,068 shares of the company's stock, valued at approximately $658,608.72. This trade represents a 5.53% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 2.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WSBC. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $42.00 price target on shares of WesBanco in a research note on Thursday. Royal Bank Of Canada raised their target price on WesBanco from $41.00 to $44.00 and gave the company a "sector perform" rating in a report on Thursday. DA Davidson set a $46.00 target price on WesBanco in a research report on Thursday. Weiss Ratings upgraded WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Finally, Zacks Research raised WesBanco from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.20.

WesBanco Trading Up 2.9%

NASDAQ WSBC opened at $41.25 on Friday. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 11.99 and a beta of 0.67. WesBanco, Inc. has a one year low of $29.18 and a one year high of $41.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.91. The business's fifty day moving average is $37.18 and its 200-day moving average is $35.69.

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

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

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Friday, June 5th. WesBanco's dividend payout ratio is currently 49.03%.

WesBanco 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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