nVerses Capital LLC Invests $80,000 in WesBanco, Inc. (NASDAQ:WSBC)

nVerses Capital LLC bought a new stake in WesBanco, Inc. (NASDAQ:WSBC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,700 shares of the financial services provider’s stock, valued at approximately $80,000.

A number of other large investors have also modified their holdings of the company. Millennium Management LLC raised its stake in WesBanco by 466.7% during the second quarter. Millennium Management LLC now owns 152,858 shares of the financial services provider’s stock worth $4,266,000 after acquiring an additional 125,883 shares in the last quarter. Edgestream Partners L.P. acquired a new position in WesBanco during the first quarter worth $3,555,000. Inspire Advisors LLC acquired a new position in WesBanco during the second quarter worth $1,416,000. Bailard Inc. acquired a new position in WesBanco during the second quarter worth $687,000. Finally, Bank of New York Mellon Corp raised its stake in WesBanco by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock worth $13,685,000 after acquiring an additional 21,297 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at WesBanco

In other news, EVP Michael L. Perkins sold 5,363 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total transaction of $161,908.97. Following the sale, the executive vice president now owns 46,817 shares of the company’s stock, valued at $1,413,405.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.44% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WSBC has been the topic of several research analyst reports. DA Davidson increased their target price on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Hovde Group increased their target price on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods increased their target price on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Stephens increased their target price on WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a report on Monday, September 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.71.

WesBanco Price Performance

Shares of WSBC opened at $31.46 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.73. WesBanco, Inc. has a 1 year low of $23.00 and a 1 year high of $34.85. The stock has a market cap of $2.10 billion, a P/E ratio of 14.77 and a beta of 0.82. The stock’s 50-day moving average price is $30.55 and its two-hundred day moving average price is $29.24.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). WesBanco had a return on equity of 5.90% and a net margin of 15.22%. The company had revenue of $234.35 million for the quarter, compared to the consensus estimate of $148.40 million. During the same quarter last year, the business posted $0.71 EPS. On average, equities analysts predict that WesBanco, Inc. will post 2.06 earnings per share for the current year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Friday, September 6th. WesBanco’s dividend payout ratio is currently 67.61%.

WesBanco Company 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.