Rhumbline Advisers Acquires 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 increased its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 41.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,759 shares of the financial services provider's stock after acquiring an additional 39,388 shares during the quarter. Rhumbline Advisers owned about 0.14% of WesBanco worth $4,141,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WSBC. Comerica Bank raised its stake in WesBanco by 6.0% in the fourth quarter. Comerica Bank now owns 6,482 shares of the financial services provider's stock valued at $211,000 after purchasing an additional 368 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of WesBanco by 132.5% during the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock worth $28,000 after acquiring an additional 510 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of WesBanco in the first quarter worth approximately $26,000. Amalgamated Bank grew its holdings in shares of WesBanco by 46.0% in the first quarter. Amalgamated Bank now owns 2,959 shares of the financial services provider's stock worth $92,000 after purchasing an additional 932 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of WesBanco by 4.3% in the first quarter. IFP Advisors Inc now owns 23,853 shares of the financial services provider's stock worth $738,000 after purchasing an additional 980 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors.

Insider Activity

In other WesBanco news, Director F Eric Nelson, Jr. bought 8,000 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the acquisition, the director owned 8,000 shares in the company, valued at approximately $200,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO K Weiss Daniel bought 4,000 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the acquisition, the chief financial officer owned 4,000 shares in the company, valued at approximately $100,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 49,600 shares of company stock worth $1,240,000. 2.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of WesBanco from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, WesBanco presently has a consensus rating of "Moderate Buy" and an average target price of $38.83.

WesBanco Trading Down 0.2%

NASDAQ:WSBC traded down $0.05 during trading hours on Friday, hitting $32.27. The company had a trading volume of 2,872,996 shares, compared to its average volume of 401,270. The company has a market capitalization of $3.10 billion, a PE ratio of 19.44 and a beta of 0.85. The stock has a 50-day moving average price of $31.65 and a 200 day moving average price of $31.07. WesBanco, Inc. has a 52 week low of $26.42 and a 52 week 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.

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

WesBanco Dividend Announcement

The business also recently declared 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 4.6%. WesBanco's payout ratio is 89.16%.

WesBanco Company 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.