Rhino Investment Partners Inc Purchases 110,698 Shares of WesBanco, Inc. $WSBC

Rhino Investment Partners Inc boosted its position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 18.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 703,723 shares of the financial services provider's stock after acquiring an additional 110,698 shares during the period. WesBanco comprises 6.8% of Rhino Investment Partners Inc's investment portfolio, making the stock its 2nd biggest holding. Rhino Investment Partners Inc owned about 0.73% of WesBanco worth $24,271,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Covestor Ltd lifted its holdings in WesBanco by 12,500.0% during the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider's stock worth $25,000 after buying an additional 750 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of WesBanco during the 4th quarter worth about $29,000. GAMMA Investing LLC increased its holdings in shares of WesBanco by 41.1% in the 4th quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 324 shares during the last quarter. First Horizon Corp raised its position in shares of WesBanco by 55.4% during the 4th quarter. First Horizon Corp now owns 1,302 shares of the financial services provider's stock worth $43,000 after acquiring an additional 464 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of WesBanco by 71.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider's stock worth $45,000 after acquiring an additional 600 shares in the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other WesBanco news, EVP Kimberly L. Griffith sold 6,875 shares of WesBanco stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $41.20, for a total value of $283,250.00. Following the sale, the executive vice president owned 15,858 shares of the company's stock, valued at approximately $653,349.60. The trade was a 30.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 2.07% of the stock is currently owned by insiders.

WesBanco Trading Up 2.5%

WSBC opened at $42.01 on Wednesday. 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, Inc. has a 52 week low of $29.18 and a 52 week high of $42.05. The business's 50 day moving average is $37.51 and its two-hundred day moving average is $35.80. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 12.21 and a beta of 0.67.

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

WesBanco announced that its board has approved a share repurchase plan on Wednesday, May 20th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were given a $0.38 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.6%. WesBanco's dividend payout ratio (DPR) is presently 44.19%.

Analyst Upgrades and Downgrades

WSBC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $42.00 price target on shares of WesBanco in a report on Thursday, July 23rd. Zacks Research raised shares of WesBanco from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Weiss Ratings upgraded shares of WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on shares of WesBanco from $41.00 to $44.00 and gave the company a "sector perform" rating in a report on Thursday, July 23rd. Finally, DA Davidson set a $46.00 target price 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, WesBanco has a consensus rating of "Moderate Buy" and an average target price of $43.20.

WesBanco Company 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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