Victory Capital Management Inc. Has $4.85 Million Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Victory Capital Management Inc. cut its position in WesBanco, Inc. (NASDAQ:WSBC) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,681 shares of the financial services provider’s stock after selling 11,676 shares during the period. Victory Capital Management Inc. owned 0.24% of WesBanco worth $4,845,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP boosted its position in WesBanco by 215.3% in the second quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock valued at $37,000 after buying an additional 913 shares in the last quarter. Signaturefd LLC boosted its position in WesBanco by 214.5% in the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after buying an additional 944 shares in the last quarter. Innealta Capital LLC acquired a new position in WesBanco in the second quarter valued at about $53,000. CWM LLC lifted its position in shares of WesBanco by 175.2% during the third quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,319 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of WesBanco during the third quarter worth approximately $80,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Trading Up 1.1 %

Shares of NASDAQ WSBC opened at $36.45 on Friday. The company’s 50 day simple moving average is $31.75 and its 200 day simple moving average is $30.18. WesBanco, Inc. has a fifty-two week low of $25.56 and a fifty-two week high of $36.87. The firm has a market capitalization of $2.44 billion, a P/E ratio of 17.44 and a beta of 0.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. The firm had revenue of $243.34 million during the quarter, compared to the consensus estimate of $152.40 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, analysts predict that WesBanco, Inc. will post 2.14 EPS for the current year.

WesBanco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, December 6th. This is an increase from WesBanco’s previous quarterly dividend of $0.36. WesBanco’s dividend payout ratio is presently 68.90%.

Insider Buying and Selling at WesBanco

In other news, EVP Michael L. Perkins sold 1,125 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $34.87, for a total transaction of $39,228.75. Following the completion of the sale, the executive vice president now owns 46,817 shares of the company’s stock, valued at $1,632,508.79. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WSBC. Stephens upped their target price on shares of WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Hovde Group upped their target price on shares of WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. DA Davidson upped their target price on shares of WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.17.

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.