WesBanco, Inc. (NASDAQ:WSBC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in WesBanco, Inc. (NASDAQ:WSBC) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,369 shares of the financial services provider’s stock after selling 634 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in WesBanco were worth $904,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WSBC. 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 worth $37,000 after acquiring an additional 913 shares during the period. Signaturefd LLC lifted its holdings 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 worth $39,000 after purchasing an additional 944 shares during the last quarter. Innealta Capital LLC bought a new position in shares of WesBanco during the second quarter worth about $53,000. CWM LLC grew its position in WesBanco by 175.2% in the 3rd 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 during the last quarter. Finally, nVerses Capital LLC acquired a new stake in WesBanco in the 3rd quarter valued at approximately $80,000. 61.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

WSBC has been the subject of a number of research analyst reports. Raymond James raised shares of WesBanco from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. Stephens upped their price target on WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $35.00 price target on shares of WesBanco in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.83.

WesBanco Trading Down 1.3 %

NASDAQ:WSBC opened at $35.24 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $33.33 and its 200-day moving average is $30.87. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 16.86 and a beta of 0.84. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $37.36.

WesBanco (NASDAQ:WSBC) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $152.40 million. During the same quarter in the previous year, the business earned $0.59 EPS. Equities analysts anticipate that WesBanco, Inc. will post 2.14 EPS for the current year.

WesBanco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, December 6th. This is an increase from WesBanco’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 4.20%. WesBanco’s dividend payout ratio is 70.81%.

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.