Fieldview Capital Management LLC Acquires Shares of 16,052 WesBanco, Inc. $WSBC

Fieldview Capital Management LLC acquired a new stake in WesBanco, Inc. (NASDAQ:WSBC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,052 shares of the financial services provider’s stock, valued at approximately $534,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in WesBanco by 12,500.0% in the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 750 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in WesBanco by 255.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 574 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new position in WesBanco in the 4th quarter valued at $29,000. GAMMA Investing LLC lifted its holdings in WesBanco by 41.1% in the 4th quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 324 shares in the last quarter. Finally, First Horizon Corp lifted its holdings in WesBanco by 55.4% in the 4th quarter. First Horizon Corp now owns 1,302 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 464 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Stock Down 1.9%

NASDAQ WSBC opened at $36.08 on Tuesday. WesBanco, Inc. has a 52 week low of $29.18 and a 52 week high of $38.10. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. The business’s fifty day simple moving average is $34.78 and its 200-day simple moving average is $34.65. The firm has a market cap of $3.47 billion, a PE ratio of 11.64 and a beta of 0.68.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The business had revenue of $257.23 million for the quarter, compared to analyst estimates of $264.52 million. During the same quarter in the previous year, the firm earned $0.66 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that WesBanco, Inc. will post 3.59 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, June 5th. WesBanco’s payout ratio is currently 49.03%.

WesBanco announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 20th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler decreased their price objective on WesBanco from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Weiss Ratings upgraded WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Raymond James Financial restated a “strong-buy” rating and issued a $41.00 price objective on shares of WesBanco in a report on Thursday, March 12th. DA Davidson restated a “buy” rating and issued a $41.00 price objective on shares of WesBanco in a report on Wednesday, April 22nd. Finally, Zacks Research lowered WesBanco from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

Insider Transactions at WesBanco

In related news, Director Lee J. Burdman purchased 3,000 shares of WesBanco stock in a transaction dated Thursday, April 23rd. The shares were acquired at an average price of $33.60 per share, for a total transaction of $100,800.00. Following the acquisition, the director directly owned 46,772 shares in the company, valued at approximately $1,571,539.20. The trade was a 6.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Louis Michael Altman acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average cost of $33.72 per share, with a total value of $101,160.00. Following the completion of the transaction, the director directly owned 33,164 shares in the company, valued at approximately $1,118,290.08. The trade was a 9.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 7,940 shares of company stock worth $267,299 in the last quarter. Company insiders own 2.07% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.