Raymond James Financial Services Advisors Inc. bought a new stake in WesBanco Inc (NASDAQ:WSBC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,157 shares of the financial services provider’s stock, valued at approximately $322,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in WSBC. River Road Asset Management LLC grew its stake in shares of WesBanco by 13.3% in the first quarter. River Road Asset Management LLC now owns 733,571 shares of the financial services provider’s stock worth $31,030,000 after acquiring an additional 86,285 shares in the last quarter. Mackay Shields LLC acquired a new position in shares of WesBanco in the first quarter worth $3,352,000. Dimensional Fund Advisors LP grew its stake in shares of WesBanco by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,661,482 shares of the financial services provider’s stock worth $154,881,000 after acquiring an additional 77,476 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of WesBanco by 25.6% in the first quarter. Allianz Asset Management GmbH now owns 280,181 shares of the financial services provider’s stock worth $11,852,000 after acquiring an additional 57,171 shares in the last quarter. Finally, Bridge City Capital LLC acquired a new position in shares of WesBanco in the second quarter worth $1,614,000. 59.93% of the stock is currently owned by institutional investors.
NASDAQ:WSBC opened at $49.21 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.60 and a beta of 0.89. WesBanco Inc has a 52 week low of $36.12 and a 52 week high of $51.12.
WesBanco (NASDAQ:WSBC) last issued its earnings results on Monday, July 23rd. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $105.76 million during the quarter, compared to the consensus estimate of $103.37 million. WesBanco had a net margin of 24.38% and a return on equity of 8.85%. During the same quarter in the previous year, the firm posted $0.60 earnings per share. sell-side analysts anticipate that WesBanco Inc will post 3.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, September 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.36%. WesBanco’s payout ratio is currently 47.35%.
In related news, Director Charlotte A. Zuschlag sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $49.50, for a total transaction of $495,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael L. Perkins sold 3,250 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $50.22, for a total transaction of $163,215.00. Following the transaction, the executive vice president now owns 12,008 shares of the company’s stock, valued at approximately $603,041.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,250 shares of company stock valued at $1,065,035. Insiders own 4.14% of the company’s stock.
Several research firms have commented on WSBC. BidaskClub upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Thursday, July 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $48.00 price target on shares of WesBanco in a research note on Wednesday, July 25th. ValuEngine upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Finally, B. Riley boosted their price target on shares of WesBanco from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 19th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $47.40.
WesBanco Company Profile
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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