Emerald Investment Advisers LLC purchased a new position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 142,868 shares of the financial services provider's stock, valued at approximately $5,576,000. Emerald Investment Advisers LLC owned about 0.15% of WesBanco as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Covestor Ltd boosted its holdings in shares of WesBanco by 12,500.0% during the fourth quarter. Covestor Ltd now owns 756 shares of the financial services provider's stock worth $25,000 after purchasing an additional 750 shares during the period. Hilton Head Capital Partners LLC bought a new stake in shares of WesBanco in the fourth quarter worth about $29,000. Federated Hermes Inc. increased its holdings in WesBanco by 71.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 600 shares during the period. Strs Ohio increased its holdings in WesBanco by 54.5% during the 4th quarter. Strs Ohio now owns 1,700 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 600 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in WesBanco by 260.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,836 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 1,327 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.
WesBanco Price Performance
WSBC stock opened at $40.86 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.93. WesBanco, Inc. has a 1 year low of $29.57 and a 1 year high of $43.02. The firm has a 50-day moving average of $40.04 and a 200 day moving average of $36.70. The company has a market cap of $3.92 billion, a P/E ratio of 11.88 and a beta of 0.67.
WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.07. WesBanco had a return on equity of 9.72% and a net margin of 23.35%.The business had revenue of $275.79 million for the quarter, compared to analysts' expectations of $267.71 million. On average, sell-side analysts forecast that WesBanco, Inc. will post 3.57 EPS for the current year.
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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, September 4th. WesBanco's dividend payout ratio (DPR) is presently 44.19%.
WesBanco declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 20th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $42.00 price objective on shares of WesBanco in a research report on Thursday, July 23rd. DA Davidson set a $46.00 target price on WesBanco in a report on Thursday, July 23rd. Wall Street Zen upgraded WesBanco from a "sell" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada raised their price target on WesBanco from $41.00 to $44.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of WesBanco in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $43.20.
Check Out Our Latest Stock Report on WesBanco
Insider Transactions at WesBanco
In other WesBanco news, EVP Robert H. Friend sold 6,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $42.06, for a total value of $252,360.00. Following the completion of the transaction, the executive vice president owned 17,361 shares in the company, valued at approximately $730,203.66. This represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kimberly L. Griffith sold 6,875 shares of the firm's stock in a transaction 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 transaction, the executive vice president directly owned 15,858 shares of the company's stock, valued at $653,349.60. This represents a 30.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 36,625 shares of company stock worth $1,505,462. 2.07% of the stock is owned by company insiders.
About WesBanco
(
Free Report)
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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