SG Americas Securities LLC Has $855,000 Position in WesBanco, Inc. $WSBC

SG Americas Securities LLC cut its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 37.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,786 shares of the financial services provider’s stock after selling 14,822 shares during the quarter. SG Americas Securities LLC’s holdings in WesBanco were worth $855,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSBC. Hsbc Holdings PLC bought a new position in shares of WesBanco during the 4th quarter worth approximately $1,492,000. Rockefeller Capital Management L.P. increased its stake in WesBanco by 36.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,572 shares of the financial services provider’s stock valued at $86,000 after buying an additional 692 shares during the last quarter. Corient Private Wealth LLC lifted its position in WesBanco by 0.7% during the 4th quarter. Corient Private Wealth LLC now owns 50,414 shares of the financial services provider’s stock worth $1,677,000 after buying an additional 357 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of WesBanco by 3.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,341 shares of the financial services provider’s stock worth $443,000 after buying an additional 390 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of WesBanco during the 4th quarter worth about $439,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on WSBC shares. Weiss Ratings raised WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. DA Davidson restated a “buy” rating and issued a $41.00 price target on shares of WesBanco in a research note on Wednesday, April 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $41.00 price target on shares of WesBanco in a research report on Thursday, March 12th. Piper Sandler upped their price objective on WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, Zacks Research raised WesBanco from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.25.

WesBanco Price Performance

Shares of WSBC stock opened at $39.64 on Monday. WesBanco, Inc. has a 52-week low of $29.18 and a 52-week high of $40.26. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 12.79 and a beta of 0.67. The firm’s 50-day moving average is $35.40 and its 200-day moving average is $35.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92.

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

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, June 5th. WesBanco’s dividend payout ratio is 49.03%.

WesBanco announced that its board has authorized a stock buyback program on Wednesday, May 20th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Louis Michael Altman acquired 3,000 shares of WesBanco stock in a transaction on Thursday, April 23rd. The stock was purchased at an average cost of $33.72 per share, with a total value of $101,160.00. Following the completion of the transaction, the director directly owned 33,164 shares in the company, valued at $1,118,290.08. This trade represents a 9.95% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lee J. Burdman bought 3,000 shares of WesBanco stock in a transaction that occurred on Thursday, April 23rd. The shares were bought at an average cost of $33.60 per share, with a total value of $100,800.00. Following the acquisition, the director directly owned 46,772 shares in the company, valued at $1,571,539.20. This trade represents a 6.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 7,000 shares of company stock worth $236,500. 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.