Comerica Bank lessened its holdings in shares of WesBanco Inc (NASDAQ:WSBC) by 38.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,840 shares of the financial services provider’s stock after selling 17,839 shares during the period. Comerica Bank owned about 0.06% of WesBanco worth $1,167,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of WesBanco by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,770,614 shares of the financial services provider’s stock valued at $169,830,000 after buying an additional 109,132 shares during the period. BlackRock Inc. boosted its position in shares of WesBanco by 10.2% during the second quarter. BlackRock Inc. now owns 3,057,652 shares of the financial services provider’s stock valued at $137,715,000 after buying an additional 283,756 shares during the period. Wesbanco Bank Inc. boosted its position in shares of WesBanco by 2.2% during the second quarter. Wesbanco Bank Inc. now owns 1,645,183 shares of the financial services provider’s stock valued at $74,099,000 after buying an additional 34,787 shares during the period. FMR LLC boosted its position in shares of WesBanco by 2.6% during the second quarter. FMR LLC now owns 1,258,300 shares of the financial services provider’s stock valued at $56,674,000 after buying an additional 32,100 shares during the period. Finally, Northern Trust Corp boosted its position in shares of WesBanco by 3.5% during the second quarter. Northern Trust Corp now owns 958,082 shares of the financial services provider’s stock valued at $43,151,000 after buying an additional 32,811 shares during the period. Institutional investors and hedge funds own 56.97% of the company’s stock.
Shares of NASDAQ WSBC opened at $40.44 on Friday. 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 P/E ratio of 16.51, a PEG ratio of 1.30 and a beta of 1.00. WesBanco Inc has a 52-week low of $37.29 and a 52-week high of $51.12.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.14). The firm had revenue of $116.16 million during the quarter, compared to analysts’ expectations of $109.07 million. WesBanco had a net margin of 24.22% and a return on equity of 9.04%. During the same quarter in the previous year, the firm posted $0.60 EPS. Analysts anticipate that WesBanco Inc will post 3.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be issued a $0.29 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.87%. WesBanco’s payout ratio is 47.35%.
WSBC has been the subject of several recent analyst reports. Boenning Scattergood restated a “hold” rating on shares of WesBanco in a research report on Friday, October 26th. BidaskClub lowered WesBanco from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. ValuEngine lowered WesBanco from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. B. Riley set a $45.00 price target on WesBanco and gave the company a “hold” rating in a report on Friday, November 2nd. Finally, Zacks Investment Research lowered WesBanco from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a report on Saturday, November 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. WesBanco presently has a consensus rating of “Hold” and a consensus price target of $47.25.
In related news, EVP Brent E. Richmond sold 4,006 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $45.60, for a total value of $182,673.60. Following the completion of the sale, the executive vice president now owns 19,635 shares in the company, valued at $895,356. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.14% of the stock is currently owned by insiders.
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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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