State Board of Administration of Florida Retirement System Lowers Stake in WesBanco Inc. (WSBC)
State Board of Administration of Florida Retirement System decreased its stake in WesBanco Inc. (NASDAQ:WSBC) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 36,743 shares of the financial services provider’s stock after selling 453 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.10% of WesBanco worth $1,141,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its position in shares of WesBanco by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,003,460 shares of the financial services provider’s stock valued at $29,813,000 after buying an additional 7,624 shares in the last quarter. Glenmede Trust Co. NA raised its position in shares of WesBanco by 3.7% in the first quarter. Glenmede Trust Co. NA now owns 468,571 shares of the financial services provider’s stock valued at $13,920,000 after buying an additional 16,793 shares in the last quarter. Stifel Financial Corp bought a new position in shares of WesBanco during the fourth quarter valued at approximately $1,838,000. Prudential Financial Inc. raised its position in shares of WesBanco by 5.1% in the first quarter. Prudential Financial Inc. now owns 139,983 shares of the financial services provider’s stock valued at $4,159,000 after buying an additional 6,800 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of WesBanco by 33.3% in the first quarter. Legal & General Group Plc now owns 10,061 shares of the financial services provider’s stock valued at $299,000 after buying an additional 2,511 shares in the last quarter. 52.73% of the stock is currently owned by institutional investors and hedge funds.
WesBanco Inc. (NASDAQ:WSBC) traded down 0.03% during midday trading on Wednesday, hitting $32.46. The stock had a trading volume of 133,852 shares. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 13.85 and a beta of 0.93. The company has a 50-day moving average price of $31.97 and a 200-day moving average price of $31.26. WesBanco Inc. has a 12-month low of $26.93 and a 12-month high of $34.32.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. WesBanco had a return on equity of 7.99% and a net margin of 26.00%. Equities analysts anticipate that WesBanco Inc. will post $2.32 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Wednesday, September 14th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Monday, September 12th. WesBanco’s dividend payout ratio (DPR) is presently 40.68%.
Several equities analysts have commented on WSBC shares. Zacks Investment Research lowered shares of WesBanco from a “hold” rating to a “sell” rating in a research note on Saturday, July 23rd. FBR & Co set a $32.00 price objective on WesBanco and gave the company a “hold” rating in a report on Thursday, July 21st.
In other WesBanco news, insider Henry L. Schulhoff sold 3,000 shares of WesBanco stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $31.85, for a total transaction of $95,550.00. Following the sale, the insider now directly owns 74,376 shares in the company, valued at approximately $2,368,875.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charlotte A. Zuschlag sold 7,900 shares of WesBanco stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $32.39, for a total value of $255,881.00. The disclosure for this sale can be found here. Corporate insiders own 4.22% of the company’s stock.
WesBanco Company Profile
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services by full-service commercial banks, including commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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