Bank of New York Mellon Corp grew its holdings in WesBanco Inc (NASDAQ:WSBC) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 296,814 shares of the financial services provider’s stock after acquiring an additional 6,115 shares during the quarter. Bank of New York Mellon Corp owned 0.64% of WesBanco worth $13,369,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of WesBanco during the second quarter worth about $322,000. SG Americas Securities LLC lifted its holdings in shares of WesBanco by 45.2% during the second quarter. SG Americas Securities LLC now owns 8,137 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 2,533 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of WesBanco during the second quarter worth about $378,000. City Holding Co. acquired a new stake in shares of WesBanco during the second quarter worth about $381,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of WesBanco by 15.9% during the second quarter. Victory Capital Management Inc. now owns 10,372 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 1,423 shares during the period. 56.97% of the stock is owned by institutional investors and hedge funds.
In other WesBanco 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 transaction, the executive vice president now directly owns 19,635 shares of the company’s stock, valued at $895,356. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.14% of the company’s stock.
A number of equities research analysts recently commented on WSBC shares. Boenning Scattergood reaffirmed a “hold” rating on shares of WesBanco in a report on Friday, October 26th. BidaskClub downgraded WesBanco from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. ValuEngine downgraded WesBanco from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. B. Riley set a $45.00 target price on WesBanco and gave the stock a “hold” rating in a report on Friday, November 2nd. Finally, Zacks Investment Research downgraded WesBanco from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a report on Saturday, November 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $47.25.
Shares of NASDAQ:WSBC opened at $40.44 on Friday. WesBanco Inc has a 12-month low of $37.29 and a 12-month high of $51.12. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.30 and a beta of 1.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.87 and a quick ratio of 0.86.
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 the Zacks’ 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 company had revenue of $116.16 million during the quarter, compared to analyst estimates of $109.07 million. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, sell-side analysts anticipate that WesBanco Inc will post 3.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, December 13th. WesBanco’s payout ratio is presently 47.35%.
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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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