Horan Capital Advisors LLC. Buys New Holdings in WesBanco Inc (WSBC)
Horan Capital Advisors LLC. bought a new position in shares of WesBanco Inc (NASDAQ:WSBC) during the 1st quarter, Holdings Channel reports. The firm bought 4,137 shares of the financial services provider’s stock, valued at approximately $164,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Executive Wealth Management LLC acquired a new position in shares of WesBanco in the 4th quarter valued at about $27,000. Public Employees Retirement System of Ohio lifted its stake in shares of WesBanco by 52.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 727 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 250 shares during the period. Advisory Services Network LLC lifted its stake in shares of WesBanco by 55.8% in the 4th quarter. Advisory Services Network LLC now owns 765 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 274 shares during the period. MCF Advisors LLC lifted its stake in shares of WesBanco by 496.9% in the 4th quarter. MCF Advisors LLC now owns 955 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 795 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in shares of WesBanco in the 4th quarter valued at about $70,000. 58.71% of the stock is currently owned by hedge funds and other institutional investors.
WSBC stock traded down $0.82 during trading on Monday, reaching $39.13. 99,410 shares of the stock were exchanged, compared to its average volume of 111,041. WesBanco Inc has a twelve month low of $34.14 and a twelve month high of $51.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $2.18 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.23 and a beta of 1.07.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.31 per share. This is an increase from WesBanco’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Thursday, March 14th. WesBanco’s dividend payout ratio is 38.63%.
A number of brokerages have recently issued reports on WSBC. BidaskClub downgraded WesBanco from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Zacks Investment Research raised WesBanco from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Boenning Scattergood reissued a “hold” rating on shares of WesBanco in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $44.67.
In other news, Director Kerry M. Stemler purchased 1,343 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were acquired at an average cost of $37.66 per share, with a total value of $50,577.38. Following the purchase, the director now owns 96,004 shares in the company, valued at $3,615,510.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Denise H. Knouse-Snyder purchased 675 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The shares were purchased at an average cost of $42.36 per share, for a total transaction of $28,593.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $84,720. The disclosure for this purchase can be found here. 3.24% of the stock is currently owned by corporate insiders.
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WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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