WesBanco, Inc. $WSBC Shares Purchased by Cwm LLC

Key Points

• Cwm LLC increased its holdings in WesBanco, Inc. by 88.9% in Q2, owning 23,422 shares valued at approximately $741,000.
• WesBanco reported earnings of $0.94 per share for the latest quarter, exceeding estimates, and declared a quarterly dividend of $0.37 per share, equating to a 4.7% yield.
• Recent analyst ratings for WesBanco show a consensus of Moderate Buy with an average price target of $39.17.

Cwm LLC lifted its holdings in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 88.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,422 shares of the financial services provider's stock after acquiring an additional 11,021 shares during the quarter. Cwm LLC's holdings in WesBanco were worth $741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank grew its position in WesBanco by 58.8% during the first quarter. Swiss National Bank now owns 185,977 shares of the financial services provider's stock valued at $5,758,000 after buying an additional 68,832 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in WesBanco by 258.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock valued at $1,215,000 after buying an additional 28,302 shares during the period. Envestnet Asset Management Inc. grew its position in WesBanco by 7.1% during the first quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider's stock valued at $8,009,000 after buying an additional 17,172 shares during the period. LPL Financial LLC grew its position in WesBanco by 44.9% during the first quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider's stock valued at $1,982,000 after buying an additional 19,836 shares during the period. Finally, Keybank National Association OH acquired a new stake in WesBanco during the first quarter valued at $2,108,000. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Stock Performance

NASDAQ:WSBC opened at $31.35 on Thursday. The company's 50-day moving average price is $32.10 and its 200-day moving average price is $31.21. 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 company has a market cap of $3.01 billion, a P/E ratio of 18.89 and a beta of 0.85. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.05. The firm had revenue of $261.58 million for the quarter, compared to the consensus estimate of $263.38 million. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. During the same period last year, the firm posted $0.54 earnings per share. On average, sell-side analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, September 5th. WesBanco's dividend payout ratio (DPR) is currently 89.16%.

Insider Transactions at WesBanco

In other news, Director F Eric Nelson, Jr. bought 8,000 shares of WesBanco stock in a transaction on Wednesday, September 17th. The shares were bought at an average cost of $25.00 per share, with a total value of $200,000.00. Following the completion of the purchase, the director directly owned 8,000 shares of the company's stock, valued at approximately $200,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Todd Clossin bought 8,000 shares of WesBanco stock in a transaction on Wednesday, September 17th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the director directly owned 8,000 shares of the company's stock, valued at $200,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 49,600 shares of company stock valued at $1,240,000. Company insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

WSBC has been the topic of several analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of WesBanco in a research report on Wednesday, October 8th. Royal Bank Of Canada increased their price objective on shares of WesBanco from $34.00 to $36.00 and gave the company a "sector perform" rating in a report on Friday, October 10th. Wall Street Zen downgraded shares of WesBanco from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Finally, DA Davidson downgraded shares of WesBanco from a "strong-buy" rating to a "hold" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.17.

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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