Brant Point Investment Management LLC Acquires 103,915 Shares of WesBanco, Inc. $WSBC

Brant Point Investment Management LLC raised its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 32.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,000 shares of the financial services provider’s stock after acquiring an additional 103,915 shares during the period. WesBanco makes up 1.4% of Brant Point Investment Management LLC’s holdings, making the stock its 4th largest position. Brant Point Investment Management LLC’s holdings in WesBanco were worth $13,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WSBC. Federated Hermes Inc. acquired a new position in shares of WesBanco during the first quarter valued at $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in WesBanco in the second quarter worth about $26,000. Smartleaf Asset Management LLC grew its position in WesBanco by 132.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider’s stock valued at $28,000 after buying an additional 510 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in WesBanco by 573.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,878 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,599 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of WesBanco by 260.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,836 shares of the financial services provider’s stock worth $58,000 after buying an additional 1,327 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

WesBanco Trading Down 2.2%

Shares of NASDAQ:WSBC opened at $32.68 on Monday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 16.67 and a beta of 0.81. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The company has a 50 day moving average price of $31.64 and a 200 day moving average price of $31.61.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.05. WesBanco had a return on equity of 8.28% and a net margin of 13.91%.The company had revenue of $261.58 million for the quarter, compared to analysts’ expectations of $263.38 million. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, research analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be issued a dividend of $0.38 per share. This is a positive change from WesBanco’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, December 5th. WesBanco’s dividend payout ratio (DPR) is currently 77.55%.

Analyst Upgrades and Downgrades

WSBC has been the subject of several recent analyst reports. Wall Street Zen cut shares of WesBanco from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Royal Bank Of Canada upped their target price on WesBanco from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. DA Davidson cut WesBanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.17.

Insider Buying and Selling at WesBanco

In related news, Director F Eric Nelson, Jr. sold 752 shares of WesBanco stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $33.37, for a total value of $25,094.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO K Weiss Daniel acquired 4,000 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were bought at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the acquisition, the chief financial officer owned 4,000 shares in the company, valued at approximately $100,000. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 52,921 shares of company stock valued at $1,339,995 over the last 90 days. 2.80% of the stock is owned by insiders.

WesBanco Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.