HBK Sorce Advisory LLC Grows Stock Holdings in WesBanco, Inc. $WSBC

HBK Sorce Advisory LLC raised its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 28.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,414 shares of the financial services provider’s stock after buying an additional 2,729 shares during the period. HBK Sorce Advisory LLC’s holdings in WesBanco were worth $393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swiss National Bank boosted its position in shares of WesBanco by 58.8% during the first quarter. Swiss National Bank now owns 185,977 shares of the financial services provider’s stock worth $5,758,000 after buying an additional 68,832 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in WesBanco by 258.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider’s stock valued at $1,215,000 after purchasing an additional 28,302 shares during the period. Envestnet Asset Management Inc. boosted its holdings in WesBanco by 7.1% in the first quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider’s stock valued at $8,009,000 after purchasing an additional 17,172 shares during the period. LPL Financial LLC boosted its holdings in WesBanco by 44.9% in the first quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider’s stock valued at $1,982,000 after purchasing an additional 19,836 shares during the period. Finally, Keybank National Association OH purchased a new position in WesBanco in the first quarter valued at $2,108,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Stock Down 0.3%

WesBanco stock opened at $30.10 on Friday. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market cap of $2.89 billion, a PE ratio of 15.36 and a beta of 0.85. The stock’s fifty day moving average is $31.99 and its two-hundred day moving average is $31.38.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. WesBanco had a return on equity of 8.55% and a net margin of 13.91%.The company had revenue of $261.58 million for the quarter, compared to analysts’ expectations of $263.38 million. During the same period last year, the firm earned $0.54 earnings per share. On average, sell-side analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were given a dividend of $0.37 per share. The ex-dividend date was Friday, September 5th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.9%. WesBanco’s payout ratio is 75.51%.

Insider Buying and Selling at WesBanco

In other news, Director Joseph R. Robinson bought 8,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the transaction, the director owned 8,000 shares of the company’s stock, valued at approximately $200,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory S. Proctor, Jr. bought 2,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at approximately $50,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 52,921 shares of company stock valued at $1,339,995. 2.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of WesBanco in a report on Wednesday, October 8th. DA Davidson lowered WesBanco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Royal Bank Of Canada lifted their target price on WesBanco from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, October 10th. Finally, Wall Street Zen lowered WesBanco from a “buy” rating to a “hold” rating in a report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

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.