Rhumbline Advisers Purchases 1,265 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Rhumbline Advisers lifted its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,255 shares of the financial services provider’s stock after purchasing an additional 1,265 shares during the quarter. Rhumbline Advisers owned 0.17% of WesBanco worth $2,742,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSBC. Principal Securities Inc. acquired a new stake in shares of WesBanco during the fourth quarter worth $43,000. Signaturefd LLC raised its stake in shares of WesBanco by 214.5% in the 2nd quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 944 shares during the period. Innealta Capital LLC bought a new stake in shares of WesBanco in the second quarter valued at about $53,000. TFO Wealth Partners LLC boosted its position in shares of WesBanco by 26,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock worth $99,000 after buying an additional 3,144 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of WesBanco during the second quarter worth about $91,000. 61.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on WSBC shares. Stephens upped their price target on WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th. DA Davidson increased their target price on shares of WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $35.00 price target on shares of WesBanco in a research note on Monday, September 9th. Keefe, Bruyette & Woods increased their price objective on shares of WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Finally, Hovde Group raised their price objective on WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, WesBanco presently has an average rating of “Hold” and a consensus target price of $34.71.

WesBanco Stock Performance

Shares of WSBC opened at $30.74 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.73. The firm’s fifty day simple moving average is $31.21 and its two-hundred day simple moving average is $29.07. WesBanco, Inc. has a 12 month low of $23.00 and a 12 month high of $34.85. The stock has a market capitalization of $2.06 billion, a P/E ratio of 12.91 and a beta of 0.83.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $234.35 million for the quarter, compared to analyst estimates of $148.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.90%. During the same quarter in the prior year, the company posted $0.71 EPS. As a group, analysts predict that WesBanco, Inc. will post 2.07 EPS for the current year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, September 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.68%. WesBanco’s dividend payout ratio (DPR) is presently 60.00%.

Insider Buying and Selling

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total value of $161,908.97. Following the completion of the sale, the executive vice president now directly owns 46,817 shares of the company’s stock, valued at $1,413,405.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.44% of the stock is currently owned by corporate insiders.

About WesBanco

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.