Menta Capital LLC Buys 2,525 Shares of WesBanco Inc (NASDAQ:WSBC)
Menta Capital LLC boosted its stake in shares of WesBanco Inc (NASDAQ:WSBC) by 35.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,669 shares of the financial services provider’s stock after purchasing an additional 2,525 shares during the period. Menta Capital LLC’s holdings in WesBanco were worth $373,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of WSBC. Trustcore Financial Services LLC purchased a new stake in shares of WesBanco in the first quarter worth $25,000. DekaBank Deutsche Girozentrale bought a new position in WesBanco during the second quarter valued at $49,000. Advisory Services Network LLC lifted its position in WesBanco by 73.9% during the first quarter. Advisory Services Network LLC now owns 1,330 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 565 shares during the last quarter. Accurate Investment Solutions Inc. lifted its position in WesBanco by 9.1% during the second quarter. Accurate Investment Solutions Inc. now owns 4,489 shares of the financial services provider’s stock valued at $173,000 after purchasing an additional 373 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in WesBanco during the second quarter valued at $262,000. Institutional investors own 54.81% of the company’s stock.
NASDAQ WSBC traded up $0.14 during trading on Friday, reaching $34.47. 340 shares of the company’s stock traded hands, compared to its average volume of 158,663. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.06 and a beta of 1.11. The company’s 50 day simple moving average is $35.72 and its two-hundred day simple moving average is $38.37. WesBanco Inc has a 12-month low of $33.54 and a 12-month high of $49.69.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Friday, September 6th. WesBanco’s dividend payout ratio (DPR) is 38.63%.
In other news, Director Stephen J. Callen acquired 7,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $33.76 per share, with a total value of $236,320.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brent E. Richmond sold 5,323 shares of WesBanco stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $36.53, for a total transaction of $194,449.19. Following the completion of the sale, the executive vice president now owns 17,428 shares of the company’s stock, valued at $636,644.84. The disclosure for this sale can be found here. Company insiders own 3.24% of the company’s stock.
Several equities analysts have commented on WSBC shares. Boenning Scattergood reiterated a “neutral” rating on shares of WesBanco in a research report on Thursday, June 20th. Sandler O’Neill upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a report on Thursday, July 25th. Hovde Group initiated coverage on shares of WesBanco in a report on Monday, June 17th. They issued an “outperform” rating and a $42.00 target price for the company. Zacks Investment Research upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, BidaskClub lowered shares of WesBanco from a “sell” rating to a “strong sell” rating in a report on Saturday, May 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $42.50.
WesBanco Company Profile
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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