Prudential Financial Inc. reduced its holdings in WesBanco Inc (NASDAQ:WSBC) by 24.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,932 shares of the financial services provider’s stock after selling 52,343 shares during the period. Prudential Financial Inc. owned approximately 0.29% of WesBanco worth $7,130,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Security National Trust Co. lifted its holdings in WesBanco by 5.5% in the third quarter. Security National Trust Co. now owns 24,487 shares of the financial services provider’s stock valued at $1,091,000 after buying an additional 1,275 shares during the period. Victory Capital Management Inc. increased its stake in WesBanco by 15.9% in the second quarter. Victory Capital Management Inc. now owns 10,372 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 1,423 shares in the last quarter. Bank of America Corp DE increased its stake in WesBanco by 0.5% in the second quarter. Bank of America Corp DE now owns 461,186 shares of the financial services provider’s stock valued at $20,772,000 after purchasing an additional 2,152 shares in the last quarter. Legacy Financial Advisors Inc. bought a new stake in WesBanco in the third quarter valued at approximately $108,000. Finally, SG Americas Securities LLC increased its stake in WesBanco by 45.2% in the second quarter. SG Americas Securities LLC now owns 8,137 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 2,533 shares in the last quarter. Institutional investors and hedge funds own 56.97% of the company’s stock.
Shares of NASDAQ:WSBC opened at $40.44 on Friday. WesBanco Inc has a 52 week low of $37.29 and a 52 week high of $51.12. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.30 and a beta of 1.00.
WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.14). WesBanco had a net margin of 24.22% and a return on equity of 9.04%. The firm had revenue of $116.16 million during the quarter, compared to the consensus estimate of $109.07 million. During the same period in the previous year, the company posted $0.60 EPS. On average, research analysts anticipate that WesBanco Inc will post 3.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, December 13th. WesBanco’s dividend payout ratio is 47.35%.
In other news, EVP Brent E. Richmond sold 4,006 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $45.60, for a total transaction of $182,673.60. Following the completion of the sale, the executive vice president now owns 19,635 shares of the company’s stock, valued at $895,356. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.14% of the stock is owned by corporate insiders.
Several equities research analysts have commented on the stock. BidaskClub raised shares of WesBanco from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. ValuEngine downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Boenning Scattergood reaffirmed a “hold” rating on shares of WesBanco in a research note on Friday, September 14th. Zacks Investment Research downgraded shares of WesBanco from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research note on Saturday, November 17th. Finally, B. Riley set a $45.00 target price on shares of WesBanco and gave the company a “hold” rating in a research note on Friday, November 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. WesBanco has a consensus rating of “Hold” and an average target price of $47.25.
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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