Osaic Holdings Inc. Raises Stake in WesBanco, Inc. $WSBC

Osaic Holdings Inc. increased its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 108.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,637 shares of the financial services provider’s stock after purchasing an additional 78,214 shares during the period. Osaic Holdings Inc. owned 0.16% of WesBanco worth $4,765,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp raised its stake in WesBanco by 0.4% during the 2nd quarter. State Street Corp now owns 3,663,315 shares of the financial services provider’s stock valued at $117,109,000 after purchasing an additional 14,147 shares during the period. Geode Capital Management LLC increased its holdings in shares of WesBanco by 7.8% in the second quarter. Geode Capital Management LLC now owns 2,389,477 shares of the financial services provider’s stock worth $75,588,000 after purchasing an additional 172,276 shares during the last quarter. Earnest Partners LLC lifted its position in shares of WesBanco by 4.6% in the first quarter. Earnest Partners LLC now owns 1,859,436 shares of the financial services provider’s stock worth $57,568,000 after buying an additional 82,434 shares in the last quarter. Wesbanco Bank Inc. increased its stake in WesBanco by 9.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 1,565,869 shares of the financial services provider’s stock worth $49,528,000 after acquiring an additional 136,975 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of WesBanco by 179.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock worth $47,779,000 after acquiring an additional 991,584 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

Insider Transactions at WesBanco

In other news, Director Zahid Afzal purchased 3,321 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were acquired at an average price of $30.11 per share, for a total transaction of $99,995.31. Following the purchase, the director owned 13,223 shares in the company, valued at $398,144.53. This trade represents a 33.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F Eric Nelson, Jr. sold 752 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $33.37, for a total transaction of $25,094.24. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of WesBanco from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of WesBanco in a research report on Monday. Wall Street Zen downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Piper Sandler began coverage on shares of WesBanco in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $42.00 price objective for the company. Finally, DA Davidson cut WesBanco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

WesBanco Trading Down 1.0%

Shares of NASDAQ WSBC opened at $34.22 on Wednesday. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.18. The firm has a market cap of $3.29 billion, a PE ratio of 17.46 and a beta of 0.81. The business has a fifty day simple moving average of $32.06 and a two-hundred day simple moving average of $31.93. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.05. WesBanco had a return on equity of 8.28% and a net margin of 13.91%.The firm had revenue of $261.58 million during the quarter, compared to the consensus estimate of $263.38 million. During the same period in the previous year, the company posted $0.54 earnings per share. Analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be issued a $0.38 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.4%. This is a boost from WesBanco’s previous quarterly dividend of $0.37. WesBanco’s dividend payout ratio (DPR) is 77.55%.

WesBanco 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.