WesBanco, Inc. $WSBC Shares Bought by First Trust Advisors LP

First Trust Advisors LP lifted its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 949.3% during the second quarter, Holdings Channel reports. The fund owned 1,281,260 shares of the financial services provider’s stock after purchasing an additional 1,159,158 shares during the quarter. First Trust Advisors LP’s holdings in WesBanco were worth $40,526,000 as of its most recent SEC filing.

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

WesBanco Trading Up 0.3%

Shares of NASDAQ WSBC opened at $33.15 on Wednesday. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.18. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 16.91 and a beta of 0.81. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. The stock’s 50 day simple moving average is $31.69 and its 200 day simple moving average is $31.65.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.05. The firm had revenue of $261.58 million for the quarter, compared to analyst estimates of $263.38 million. WesBanco had a return on equity of 8.28% and a net margin of 13.91%.During the same period last year, the company earned $0.54 earnings per share. Equities research analysts expect that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be given a $0.38 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.52 annualized dividend and a yield of 4.6%. This is a boost from WesBanco’s previous quarterly dividend of $0.37. WesBanco’s payout ratio is 77.55%.

Insider Activity

In other news, Director Joseph R. Robinson bought 8,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the transaction, the director owned 8,000 shares in the company, valued at approximately $200,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO K Weiss Daniel purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the acquisition, the chief financial officer owned 4,000 shares of the company’s stock, valued at approximately $100,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 52,921 shares of company stock worth $1,339,995 over the last three months. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

WSBC has been the subject of several research analyst reports. Wall Street Zen downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Royal Bank Of Canada increased their price target on shares of 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 downgraded WesBanco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.17.

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.