WesBanco, Inc. $WSBC Position Increased by Wesbanco Bank Inc.

Key Points

• WesBanco Bank Inc. increased its position in WesBanco, Inc. by 9.6%, owning 1,565,869 shares after purchasing an additional 136,975 shares in the second quarter, making it the bank's 10th largest investment.
• WesBanco's stock has a market capitalization of $3.03 billion, a P/E ratio of 19.04, and reported a 0.91 earnings per share for the last quarter, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.37 per share, to be paid on October 1st, representing an annualized dividend yield of 4.7%.

Wesbanco Bank Inc. raised its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 9.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,565,869 shares of the financial services provider's stock after purchasing an additional 136,975 shares during the quarter. WesBanco accounts for approximately 1.5% of Wesbanco Bank Inc.'s portfolio, making the stock its 10th largest position. Wesbanco Bank Inc. owned about 1.64% of WesBanco worth $49,528,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its position in WesBanco by 98.5% in the first quarter. Voya Investment Management LLC now owns 34,483 shares of the financial services provider's stock valued at $1,068,000 after purchasing an additional 17,107 shares during the period. Rhumbline Advisers raised its position in WesBanco by 41.7% in the first quarter. Rhumbline Advisers now owns 133,759 shares of the financial services provider's stock valued at $4,141,000 after purchasing an additional 39,388 shares during the period. Strs Ohio purchased a new stake in WesBanco in the first quarter valued at approximately $152,000. Mendon Capital Advisors Corp purchased a new stake in WesBanco in the first quarter valued at approximately $1,548,000. Finally, Intech Investment Management LLC raised its position in WesBanco by 65.6% in the first quarter. Intech Investment Management LLC now owns 50,965 shares of the financial services provider's stock valued at $1,578,000 after purchasing an additional 20,190 shares during the period. Hedge funds and other institutional investors own 61.41% of the company's stock.

WesBanco Stock Down 0.8%

WesBanco stock opened at $31.61 on Friday. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.36. The stock's fifty day simple moving average is $31.81 and its 200-day simple moving average is $31.15. 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 firm has a market capitalization of $3.03 billion, a P/E ratio of 19.04 and a beta of 0.85.

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

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, September 5th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.7%. WesBanco's payout ratio is presently 89.16%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised WesBanco from a "hold" rating to a "buy" rating in a research report on Saturday. One 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

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.

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