Quantinno Capital Management LP Has $3.28 Million Stock Position in WesBanco, Inc. $WSBC

Key Points

• Quantinno Capital Management increased its WesBanco holdings by 190.1% in the first quarter, bringing its position to 95,143 shares valued at approximately $3.28 million. Institutional investors and hedge funds collectively own 61.41% of the company.
• Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and an average price target of $43.20, compared with the stock’s recent price of $41.69.
• WesBanco exceeded quarterly earnings and revenue expectations, reporting $0.92 in EPS and $275.79 million in revenue. The company also maintains a $0.38 quarterly dividend and authorized a buyback of up to 4 million shares.

Quantinno Capital Management LP raised its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 190.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,143 shares of the financial services provider's stock after acquiring an additional 62,344 shares during the quarter. Quantinno Capital Management LP owned approximately 0.10% of WesBanco worth $3,281,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of WesBanco by 179.7% in 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. FJ Capital Management LLC lifted its position in WesBanco by 771.4% during the 3rd quarter. FJ Capital Management LLC now owns 654,296 shares of the financial services provider's stock worth $20,892,000 after buying an additional 579,211 shares in the last quarter. Aristotle Capital Boston LLC bought a new stake in WesBanco during the 4th quarter worth about $11,279,000. Wellington Management Group LLP grew its holdings in shares of WesBanco by 13.7% in the 4th quarter. Wellington Management Group LLP now owns 2,764,222 shares of the financial services provider's stock valued at $91,883,000 after acquiring an additional 332,585 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of WesBanco in the third quarter valued at about $10,220,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Royal Bank Of Canada raised their price target on WesBanco from $41.00 to $44.00 and gave the company a "sector perform" rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of WesBanco in a report on Monday, August 3rd. Zacks Research raised shares of WesBanco from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. DA Davidson set a $46.00 price target on shares of WesBanco in a research note on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $42.00 price objective on shares of WesBanco in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.20.

WesBanco Stock Performance

WSBC opened at $41.69 on Friday. WesBanco, Inc. has a 12-month low of $29.32 and a 12-month high of $42.50. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 12.12 and a beta of 0.67. The business has a 50 day moving average of $38.66 and a 200-day moving average of $36.22. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share 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 business had revenue of $275.79 million for the quarter, compared to analyst estimates of $267.71 million. On average, equities research analysts expect that WesBanco, Inc. will post 3.57 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, June 5th. WesBanco's payout ratio is currently 44.19%.

WesBanco announced that its board has authorized a stock buyback program on Wednesday, May 20th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Insider Activity

In other WesBanco news, EVP Jayson M. Zatta sold 12,500 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $41.80, for a total value of $522,500.00. Following the transaction, the executive vice president directly owned 81,082 shares of the company's stock, valued at $3,389,227.60. This represents a 13.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the executive vice president owned 35,924 shares of the company's stock, valued at approximately $1,318,770.04. This represents a 11.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,625 shares of company stock valued at $1,168,982 over the last ninety days. 2.07% of the stock is currently owned by company insiders.

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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