Cerity Partners LLC Raises Stake in WesBanco, Inc. (NASDAQ:WSBC)

Cerity Partners LLC increased its position in WesBanco, Inc. (NASDAQ:WSBC) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,049 shares of the financial services provider’s stock after acquiring an additional 867 shares during the quarter. Cerity Partners LLC’s holdings in WesBanco were worth $895,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Quarry LP boosted its holdings in WesBanco by 215.3% in the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 913 shares during the period. Signaturefd LLC grew its position in WesBanco by 214.5% during the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock worth $39,000 after buying an additional 944 shares in the last quarter. Innealta Capital LLC bought a new position in WesBanco in the 2nd quarter worth about $53,000. CWM LLC raised its holdings in shares of WesBanco by 175.2% in the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,319 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of WesBanco during the 3rd quarter valued at about $80,000. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Stock Down 0.0 %

Shares of NASDAQ WSBC opened at $35.52 on Friday. The stock has a market capitalization of $2.38 billion, a P/E ratio of 17.00 and a beta of 0.84. WesBanco, Inc. has a one year low of $25.56 and a one year high of $37.36. The firm’s 50 day simple moving average is $32.55 and its two-hundred day simple moving average is $30.58. 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 released 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. The company had revenue of $243.34 million for the quarter, compared to analyst estimates of $152.40 million. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. During the same quarter last year, the firm earned $0.59 EPS. As a group, analysts expect that WesBanco, Inc. will post 2.14 EPS for the current fiscal year.

WesBanco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a $0.37 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.48 annualized dividend and a dividend yield of 4.17%. This is an increase from WesBanco’s previous quarterly dividend of $0.36. WesBanco’s payout ratio is currently 68.90%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stephens lifted their target price on shares of WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $35.00 price objective on shares of WesBanco in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, WesBanco presently has an average rating of “Moderate Buy” and a consensus target price of $36.17.

Insider Activity

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the sale, the executive vice president now owns 46,817 shares of the company’s stock, valued at $1,632,508.79. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.44% of the stock is currently owned by corporate insiders.

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.