FJ Capital Management LLC Reduces Stake in WesBanco, Inc. $WSBC

Key Points

• FJ Capital Management LLC has reduced its stake in WesBanco, Inc. by 5.4%, now holding 445,012 shares, which constitutes 1.4% of its portfolio.
• WesBanco's recent earnings report revealed an EPS of $0.91, exceeding analysts' estimates, while the company also declared a quarterly dividend of $0.37 per share.
• Institutional investors control over 61.41% of WesBanco's shares, with notable increases from other firms like Swiss National Bank and Cambridge Investment Research Advisors Inc.

FJ Capital Management LLC lessened its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 445,012 shares of the financial services provider's stock after selling 25,545 shares during the period. WesBanco makes up about 1.4% of FJ Capital Management LLC's investment portfolio, making the stock its 25th largest holding. FJ Capital Management LLC owned 0.66% of WesBanco worth $13,778,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Comerica Bank increased its position in WesBanco by 6.0% during the 4th quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock valued at $211,000 after buying an additional 368 shares in the last quarter. Smartleaf Asset Management LLC increased its position in WesBanco by 132.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock valued at $28,000 after buying an additional 510 shares in the last quarter. Federated Hermes Inc. bought a new position in WesBanco during the 1st quarter valued at approximately $26,000. Amalgamated Bank increased its position in WesBanco by 46.0% during the 1st quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock valued at $92,000 after buying an additional 932 shares in the last quarter. Finally, IFP Advisors Inc increased its position in WesBanco by 4.3% during the 1st quarter. IFP Advisors Inc now owns 23,853 shares of the financial services provider's stock valued at $738,000 after buying an additional 980 shares in the last quarter. Institutional investors own 61.41% of the company's stock.

WesBanco Stock Down 2.2%

WSBC stock traded down $0.71 on Friday, reaching $32.28. 336,156 shares of the company traded hands, compared to its average volume of 406,277. WesBanco, Inc. has a one year low of $26.42 and a one year high of $37.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market cap of $3.10 billion, a P/E ratio of 19.45 and a beta of 0.85. The firm has a fifty day simple moving average of $31.93 and a 200-day simple moving average of $31.31.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $260.73 million during the quarter, compared to analyst estimates of $261.14 million. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.During the same quarter last year, the company earned $0.49 EPS. Research analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. WesBanco's dividend payout ratio (DPR) is presently 89.16%.

WesBanco Profile

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.