Rhumbline Advisers Purchases 39,388 Shares of WesBanco, Inc. $WSBC

Key Points

• Rhumbline Advisers increased its stake in WesBanco, Inc. by 41.7% in the first quarter, now owning 133,759 shares valued at approximately $4.14 million.
• Goldman Sachs Group Inc. significantly raised its holdings in WesBanco by 179.7%, further indicating strong institutional interest in the stock.
• WesBanco announced a quarterly dividend of $0.37 per share, which translates to an annual yield of 4.7%, with the payout set for October 1st.

Rhumbline Advisers grew its position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 41.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,759 shares of the financial services provider's stock after buying an additional 39,388 shares during the quarter. Rhumbline Advisers owned 0.14% of WesBanco worth $4,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in WesBanco by 40.3% in the 1st quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider's stock worth $291,427,000 after purchasing an additional 2,702,469 shares during the period. Dimensional Fund Advisors LP raised its holdings in WesBanco by 42.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider's stock worth $179,358,000 after purchasing an additional 1,730,801 shares during the period. Goldman Sachs Group Inc. raised its holdings in WesBanco by 179.7% in 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 purchasing an additional 991,584 shares during the period. Nuveen LLC bought a new position in WesBanco in the 1st quarter worth $22,282,000. Finally, Wellington Management Group LLP raised its holdings in WesBanco by 35.2% in the 1st quarter. Wellington Management Group LLP now owns 2,456,454 shares of the financial services provider's stock worth $76,052,000 after purchasing an additional 640,003 shares during the period. 61.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised WesBanco from a "hold" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $38.83.

WesBanco Trading Down 0.8%

WSBC opened at $31.61 on Monday. The firm has a market cap of $3.03 billion, a P/E ratio of 19.04 and a beta of 0.85. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $31.81 and a 200 day moving average of $31.12.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The company 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 business posted $0.49 earnings per share. As a group, research analysts forecast that WesBanco, Inc. will post 3.24 EPS 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 given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, September 5th. WesBanco's payout ratio is 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.

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