WesBanco, Inc. (NASDAQ:WSBC) Position Raised by State Street Corp

State Street Corp increased its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,934,453 shares of the financial services provider’s stock after buying an additional 35,030 shares during the quarter. State Street Corp owned about 2.89% of WesBanco worth $58,313,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. grew its stake in WesBanco by 64.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 12,193 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 4,760 shares in the last quarter. AMG National Trust Bank lifted its stake in WesBanco by 31.7% in the second quarter. AMG National Trust Bank now owns 14,535 shares of the financial services provider’s stock valued at $406,000 after buying an additional 3,500 shares during the period. Raymond James Trust N.A. boosted its holdings in WesBanco by 3.9% during the second quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock worth $485,000 after buying an additional 647 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of WesBanco in the 2nd quarter valued at approximately $687,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

Insider Buying and Selling at WesBanco

In other news, EVP Michael L. Perkins sold 1,125 shares of the firm’s stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $35.00 to $44.00 in a report on Friday, December 6th. Finally, Stephens increased their target price on WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.83.

WesBanco Stock Down 4.6 %

WSBC stock opened at $32.94 on Thursday. 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, Inc. has a fifty-two week low of $25.56 and a fifty-two week high of $37.36. The stock has a market capitalization of $2.20 billion, a P/E ratio of 15.76 and a beta of 0.84. The business has a 50-day moving average of $33.75 and a 200-day moving average of $31.10.

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

WesBanco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, December 6th. This is a boost from WesBanco’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 4.49%. WesBanco’s dividend payout ratio (DPR) is currently 70.81%.

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.