Bank of Montreal Can Has $552,000 Stake in WesBanco, Inc. (NASDAQ:WSBC)

Bank of Montreal Can lowered its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,737 shares of the financial services provider’s stock after selling 590 shares during the quarter. Bank of Montreal Can’s holdings in WesBanco were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Signaturefd LLC boosted its stake 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 buying an additional 944 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of WesBanco in the 2nd quarter worth approximately $53,000. International Assets Investment Management LLC purchased a new position in shares of WesBanco in the 2nd quarter worth approximately $91,000. Comerica Bank boosted its stake in shares of WesBanco by 27.5% in the 1st quarter. Comerica Bank now owns 5,382 shares of the financial services provider’s stock worth $160,000 after buying an additional 1,162 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of WesBanco by 34.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,292 shares of the financial services provider’s stock worth $197,000 after buying an additional 1,617 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WSBC shares. Hovde Group boosted their target price on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $35.00 price objective on shares of WesBanco in a research note on Monday, September 9th. Keefe, Bruyette & Woods upped their price objective on WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. DA Davidson upped their price objective on WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Stephens upped their price objective on WesBanco from $27.00 to $34.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 6th. Four 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 “Hold” and an average target price of $34.71.

Insiders Place Their Bets

In other news, EVP Michael L. Perkins sold 5,363 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total value of $161,908.97. Following the transaction, the executive vice president now owns 46,817 shares of the company’s stock, valued at approximately $1,413,405.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.44% of the company’s stock.

WesBanco Trading Down 0.6 %

NASDAQ:WSBC opened at $29.11 on Wednesday. The company has a market cap of $1.95 billion, a P/E ratio of 12.13 and a beta of 0.82. The stock’s fifty day moving average price is $30.52 and its two-hundred day moving average price is $29.15. WesBanco, Inc. has a 1 year low of $23.00 and a 1 year high of $34.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.94.

WesBanco (NASDAQ:WSBC) last posted its earnings results 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 company had revenue of $234.35 million for the quarter, compared to analysts’ expectations of $148.40 million. WesBanco had a return on equity of 5.90% and a net margin of 15.22%. During the same quarter in the prior year, the company earned $0.71 EPS. As a group, analysts expect that WesBanco, Inc. will post 2.06 EPS for the current year.

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.95%. WesBanco’s dividend payout ratio is currently 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.