15,280 Shares in WesBanco, Inc. $WSBC Bought by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC purchased a new stake in WesBanco, Inc. (NASDAQ:WSBC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,280 shares of the financial services provider’s stock, valued at approximately $508,000.

Other large investors also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in shares of WesBanco by 12,500.0% in the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 750 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in WesBanco by 255.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock worth $26,000 after buying an additional 574 shares during the last quarter. GAMMA Investing LLC increased its position in WesBanco by 41.1% during the fourth quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock worth $37,000 after buying an additional 324 shares during the period. First Horizon Corp increased its position in WesBanco by 55.4% during the fourth quarter. First Horizon Corp now owns 1,302 shares of the financial services provider’s stock worth $43,000 after buying an additional 464 shares during the period. Finally, Federated Hermes Inc. lifted its stake in WesBanco by 71.9% in the second quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider’s stock valued at $45,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $34.57 on Wednesday. The stock has a fifty day moving average price of $34.50 and a 200 day moving average price of $34.35. WesBanco, Inc. has a 1-year low of $29.18 and a 1-year high of $38.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $3.32 billion, a PE ratio of 11.15 and a beta of 0.68.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. WesBanco had a net margin of 21.12% and a return on equity of 9.76%. The company had revenue of $257.23 million for the quarter, compared to analysts’ expectations of $264.52 million. During the same period in the previous year, the company posted $0.66 EPS. WesBanco’s revenue was down 3.1% compared to the same quarter last year. Sell-side analysts forecast that WesBanco, Inc. will post 3.59 EPS for the current year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, June 5th. WesBanco’s dividend payout ratio is currently 49.03%.

WesBanco declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 20th that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WSBC. Zacks Research downgraded WesBanco from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Piper Sandler reduced their price target on shares of WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Raymond James Financial reiterated a “strong-buy” rating and set a $41.00 price target on shares of WesBanco in a research note on Thursday, March 12th. DA Davidson reissued a “buy” rating and set a $41.00 price objective on shares of WesBanco in a research report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.50.

Insider Activity at WesBanco

In other WesBanco news, Director Joseph R. Robinson acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average price of $34.54 per share, with a total value of $34,540.00. Following the completion of the acquisition, the director directly owned 19,068 shares of the company’s stock, valued at approximately $658,608.72. The trade was a 5.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lee J. Burdman acquired 3,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was acquired at an average price of $33.60 per share, with a total value of $100,800.00. Following the transaction, the director directly owned 46,772 shares of the company’s stock, valued at $1,571,539.20. This represents a 6.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 7,940 shares of company stock worth $267,299 over the last 90 days. Company insiders own 2.07% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.