Inspire Investing LLC Has $353,000 Stock Position in WesBanco, Inc. (NASDAQ:WSBC)

Inspire Investing LLC boosted its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,630 shares of the financial services provider’s stock after purchasing an additional 560 shares during the quarter. Inspire Investing LLC’s holdings in WesBanco were worth $353,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WSBC. State Board of Administration of Florida Retirement System raised its position in shares of WesBanco by 105.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider’s stock valued at $1,038,000 after buying an additional 17,345 shares during the last quarter. Edgestream Partners L.P. acquired a new position in WesBanco in the 1st quarter valued at approximately $3,555,000. Bank of New York Mellon Corp raised its holdings in WesBanco by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock valued at $13,685,000 after acquiring an additional 21,297 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of WesBanco in the 1st quarter worth approximately $212,000. Finally, Sei Investments Co. grew its holdings in shares of WesBanco by 1.7% during the 1st quarter. Sei Investments Co. now owns 209,011 shares of the financial services provider’s stock worth $6,231,000 after purchasing an additional 3,425 shares in the last quarter. 61.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at WesBanco

In other news, EVP Michael L. Perkins sold 5,363 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total transaction of $161,908.97. Following the transaction, the executive vice president now directly owns 46,817 shares in the company, valued at $1,413,405.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.44% of the company’s stock.

WesBanco Stock Performance

NASDAQ WSBC opened at $30.52 on Monday. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 12.72 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.73. WesBanco, Inc. has a 1-year low of $23.00 and a 1-year high of $34.85. The company has a 50 day moving average of $31.31 and a 200-day moving average of $29.10.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $234.35 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.71 EPS. On average, equities analysts forecast that WesBanco, Inc. will post 2.07 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, September 6th. This represents a $1.44 annualized dividend and a yield of 4.72%. WesBanco’s dividend payout ratio (DPR) is 60.00%.

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.