13,794 Shares in WesBanco, Inc. (NASDAQ:WSBC) Acquired by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in WesBanco, Inc. (NASDAQ:WSBC) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 13,794 shares of the financial services provider’s stock, valued at approximately $411,000.

Other institutional investors have also recently modified their holdings of the company. New York State Common Retirement Fund increased its position in WesBanco by 2.5% during the 3rd quarter. New York State Common Retirement Fund now owns 500,890 shares of the financial services provider’s stock worth $14,917,000 after purchasing an additional 11,987 shares in the last quarter. Bank of New York Mellon Corp lifted 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. F M Investments LLC acquired a new stake in shares of WesBanco during the 3rd quarter valued at $7,726,000. Envestnet Asset Management Inc. increased its holdings in WesBanco by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 227,429 shares of the financial services provider’s stock worth $6,348,000 after purchasing an additional 6,043 shares in the last quarter. Finally, Empowered Funds LLC raised its position in WesBanco by 5.3% in the third quarter. Empowered Funds LLC now owns 185,932 shares of the financial services provider’s stock valued at $5,537,000 after purchasing an additional 9,380 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at WesBanco

In related news, EVP Michael L. Perkins sold 1,125 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $34.87, for a total transaction 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 approximately $1,632,508.79. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on WSBC. Stephens lifted their price objective on WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Royal Bank of Canada restated a “sector perform” rating and issued a $35.00 target price on shares of WesBanco in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, WesBanco currently has an average rating of “Moderate Buy” and a consensus price target of $36.17.

WesBanco Stock Performance

Shares of NASDAQ:WSBC opened at $35.28 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 16.88 and a beta of 0.81. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $37.36. The company has a 50-day moving average price of $32.21 and a 200-day moving average price of $30.46.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $243.34 million during the quarter, compared to analyst estimates of $152.40 million. WesBanco had a return on equity of 5.75% and a net margin of 14.79%. During the same quarter in the prior year, the company earned $0.59 EPS. As a group, equities analysts anticipate that WesBanco, Inc. will post 2.14 EPS for the current year.

WesBanco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Friday, December 6th. This is a boost from WesBanco’s previous quarterly dividend of $0.36. 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.