Empowered Funds LLC Buys 110,472 Shares of WesBanco, Inc. $WSBC

Key Points

• Empowered Funds LLC increased its stake in WesBanco, Inc. by 56.5% during the 1st quarter, owning approximately 0.46% of the company valued at $9,470,000.
• WesBanco reported $0.91 EPS for the last quarter, surpassing expectations, along with a revenue of $260.73 million, slightly below consensus estimates.
• The company announced a quarterly dividend of $0.37 per share, with an annualized dividend yield of 4.7%, set to be paid on October 1st.

Empowered Funds LLC grew its stake in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 305,870 shares of the financial services provider's stock after purchasing an additional 110,472 shares during the period. Empowered Funds LLC owned approximately 0.46% of WesBanco worth $9,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of WSBC. Goldman Sachs Group Inc. lifted its holdings in WesBanco by 179.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider's stock worth $47,779,000 after buying an additional 991,584 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of WesBanco by 1,553.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider's stock valued at $62,000 after acquiring an additional 1,895 shares in the last quarter. Siena Capital Partners GP LLC bought a new position in shares of WesBanco in the 1st quarter valued at about $1,079,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in WesBanco by 56.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider's stock valued at $1,582,000 after purchasing an additional 18,347 shares during the last quarter. Finally, EJF Capital LLC lifted its position in WesBanco by 161.1% during the first quarter. EJF Capital LLC now owns 190,361 shares of the financial services provider's stock worth $5,894,000 after acquiring an additional 117,447 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors.

WesBanco Stock Performance

Shares of WSBC traded down $0.27 during mid-day trading on Friday, hitting $31.61. 258,765 shares of the company's stock were exchanged, compared to its average volume of 414,833. WesBanco, Inc. has a 52 week low of $26.42 and a 52 week high of $37.36. The stock's 50-day simple moving average is $31.81 and its 200-day simple moving average is $31.17. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 19.04 and a beta of 0.85. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.57.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $260.73 million during the quarter, compared to the consensus estimate of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. During the same period in the previous year, the business earned $0.49 earnings per share. On average, equities research analysts expect that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a $0.37 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.48 annualized dividend and a yield of 4.7%. WesBanco's payout ratio is presently 89.16%.

About WesBanco

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.