WesBanco, Inc. $WSBC Stock Holdings Increased by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. increased its stake in WesBanco by 5.5% in the fourth quarter, buying 81,974 more shares and bringing its total to 1,570,275 shares valued at about $52.2 million.
• Several institutional investors and insiders also added to their positions, including directors Louis Michael Altman and Joseph R. Robinson, while institutions now hold 61.41% of the company.
• WesBanco reported better-than-expected earnings of $0.91 per share for the latest quarter, and it continues to pay a quarterly dividend of $0.38 per share, equal to a 4.4% annualized yield.

Wesbanco Bank Inc. increased its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,570,275 shares of the financial services provider's stock after buying an additional 81,974 shares during the period. WesBanco comprises 1.4% of Wesbanco Bank Inc.'s portfolio, making the stock its 10th largest holding. Wesbanco Bank Inc. owned 1.64% of WesBanco worth $52,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in WesBanco by 255.1% during the third quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider's stock worth $26,000 after buying an additional 574 shares in the last quarter. First Horizon Corp acquired a new position in WesBanco during the third quarter worth about $27,000. GAMMA Investing LLC raised its position in WesBanco by 41.1% during the fourth quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider's stock worth $37,000 after acquiring an additional 324 shares during the last quarter. Federated Hermes Inc. raised its position in WesBanco by 71.9% during the second 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 during the last quarter. Finally, Strs Ohio raised its position in WesBanco by 54.5% during the fourth quarter. Strs Ohio now owns 1,700 shares of the financial services provider's stock worth $57,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

Insider Activity

In other news, Director Louis Michael Altman acquired 3,000 shares of the business's stock in a transaction dated Thursday, April 23rd. The stock was acquired at an average price of $33.72 per share, with a total value of $101,160.00. Following the completion of the transaction, the director directly owned 33,164 shares in the company, valued at approximately $1,118,290.08. This represents a 9.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph R. Robinson acquired 1,000 shares of the business's stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $34.54 per share, with a total value of $34,540.00. Following the transaction, the director owned 19,068 shares of the company's stock, valued at approximately $658,608.72. The trade was a 5.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 7,940 shares of company stock valued at $267,299 over the last 90 days. Insiders own 2.07% of the company's stock.

WesBanco Stock Performance

NASDAQ:WSBC opened at $34.24 on Friday. The firm has a 50 day simple moving average of $34.55 and a 200-day simple moving average of $33.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $3.29 billion, a PE ratio of 11.04 and a beta of 0.69. WesBanco, Inc. has a 1-year low of $29.18 and a 1-year high of $38.10.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $257.23 million during the quarter, compared to analyst estimates of $264.52 million. WesBanco had a net margin of 21.12% and a return on equity of 9.76%. The company's revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 earnings per share. On average, equities analysts expect that WesBanco, Inc. will post 3.58 EPS for the current year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, March 6th. WesBanco's payout ratio is currently 49.03%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WSBC shares. Weiss Ratings upgraded shares of WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday. Zacks Research cut shares of WesBanco from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 28th. Piper Sandler cut their target price on shares of WesBanco from $42.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, April 23rd. Raymond James Financial restated a "strong-buy" rating and set a $41.00 target price on shares of WesBanco in a research report on Thursday, March 12th. Finally, DA Davidson restated a "buy" rating and set a $41.00 target price on shares of WesBanco in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $39.50.

WesBanco 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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