BW Gestao de Investimentos Ltda. purchased a new position in shares of WesBanco Inc (NASDAQ:WSBC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,962 shares of the financial services provider’s stock, valued at approximately $221,000.
Other large investors have also recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new position in shares of WesBanco during the 3rd quarter worth $103,000. Legacy Financial Advisors Inc. acquired a new position in WesBanco in the 3rd quarter valued at about $108,000. WealthTrust Fairport LLC acquired a new position in WesBanco in the 2nd quarter valued at about $118,000. Panagora Asset Management Inc. acquired a new position in WesBanco in the 3rd quarter valued at about $126,000. Finally, Stratos Wealth Partners LTD. acquired a new position in WesBanco in the 3rd quarter valued at about $138,000. 56.97% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Brent E. Richmond sold 4,006 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $45.60, for a total transaction of $182,673.60. Following the completion of the transaction, the executive vice president now owns 19,635 shares of the company’s stock, valued at approximately $895,356. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.14% of the company’s stock.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.64 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 for the quarter, compared to analyst estimates of $109.07 million. During the same period in the prior year, the company earned $0.60 EPS. On average, analysts expect that WesBanco Inc will post 3.14 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, December 13th. WesBanco’s dividend payout ratio is currently 47.35%.
Several brokerages recently weighed in on WSBC. Zacks Investment Research downgraded shares of WesBanco from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research note on Saturday, November 17th. BidaskClub downgraded shares of WesBanco from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Boenning Scattergood reissued a “hold” rating on shares of WesBanco in a research note on Friday, September 14th. B. Riley set a $45.00 target price on shares of WesBanco and gave the company a “hold” rating in a research note on Friday, November 2nd. Finally, ValuEngine downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $47.25.
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WesBanco Company Profile
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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