Wesbanco Bank Inc. Acquires New Stake in PJT Partners Inc. (NYSE:PJT)

Wesbanco Bank Inc. bought a new stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,736 shares of the financial services provider's stock, valued at approximately $1,106,000.

Several other institutional investors also recently bought and sold shares of the company. Account Management LLC purchased a new position in shares of PJT Partners in the third quarter valued at approximately $202,000. Handelsbanken Fonder AB acquired a new stake in shares of PJT Partners in the 3rd quarter valued at $207,000. M&T Bank Corp purchased a new stake in PJT Partners during the 4th quarter worth about $217,000. Quadrature Capital Ltd acquired a new position in PJT Partners in the third quarter valued at approximately $218,000. Finally, Cerity Partners LLC acquired a new position in shares of PJT Partners in the 4th quarter valued at $219,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PJT has been the subject of a number of research reports. UBS Group reissued a "sell" rating and issued a $75.00 price objective (down from $100.00) on shares of PJT Partners in a report on Tuesday, March 26th. The Goldman Sachs Group reissued a "neutral" rating and set a $99.00 price target (down previously from $108.00) on shares of PJT Partners in a report on Tuesday, January 9th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $110.00 price objective on shares of PJT Partners in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, PJT Partners currently has an average rating of "Hold" and a consensus target price of $93.25.

PJT Partners Price Performance

Shares of PJT stock traded up $1.07 during mid-day trading on Friday, hitting $99.53. The stock had a trading volume of 339,091 shares, compared to its average volume of 292,952. The firm has a market cap of $2.38 billion, a PE ratio of 27.42 and a beta of 0.67. The company's 50-day simple moving average is $96.57 and its 200-day simple moving average is $93.89. PJT Partners Inc. has a fifty-two week low of $59.61 and a fifty-two week high of $107.35.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.53. PJT Partners had a net margin of 7.57% and a return on equity of 17.44%. The firm had revenue of $329.39 million during the quarter, compared to the consensus estimate of $229.32 million. During the same quarter last year, the firm earned $0.54 earnings per share. The firm's revenue was up 64.7% compared to the same quarter last year. On average, analysts expect that PJT Partners Inc. will post 3.85 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. PJT Partners's dividend payout ratio (DPR) is presently 27.55%.

Insider Buying and Selling

In other PJT Partners news, CFO Helen T. Meates sold 12,926 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the sale, the chief financial officer now owns 48,821 shares of the company's stock, valued at $5,151,103.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other PJT Partners news, CFO Helen T. Meates sold 12,926 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the transaction, the chief financial officer now directly owns 48,821 shares of the company's stock, valued at $5,151,103.71. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the sale, the insider now directly owns 73,421 shares in the company, valued at approximately $7,678,368.18. The disclosure for this sale can be found here. Insiders have sold 27,926 shares of company stock valued at $2,875,672 over the last quarter. Company insiders own 10.67% of the company's stock.

PJT Partners Profile

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.

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