Renaissance Technologies LLC Purchases 24,200 Shares of WesBanco Inc (WSBC)
Renaissance Technologies LLC increased its position in WesBanco Inc (NASDAQ:WSBC) by 6.1% in the second quarter, Holdings Channel reports. The institutional investor owned 422,173 shares of the financial services provider’s stock after buying an additional 24,200 shares during the quarter. Renaissance Technologies LLC’s holdings in WesBanco were worth $19,015,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in WesBanco by 7.8% in the first quarter. Wells Fargo & Company MN now owns 288,888 shares of the financial services provider’s stock valued at $12,220,000 after purchasing an additional 20,788 shares during the last quarter. SG Americas Securities LLC bought a new stake in WesBanco in the first quarter valued at approximately $237,000. Victory Capital Management Inc. lifted its position in WesBanco by 45.8% in the first quarter. Victory Capital Management Inc. now owns 8,949 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 2,811 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in WesBanco by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 217,239 shares of the financial services provider’s stock valued at $9,190,000 after purchasing an additional 11,909 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in WesBanco in the first quarter valued at approximately $283,000. Institutional investors own 59.92% of the company’s stock.
Shares of WSBC stock opened at $45.50 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.93. WesBanco Inc has a fifty-two week low of $38.09 and a fifty-two week high of $51.12. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 1.49 and a beta of 0.89.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.55%. WesBanco’s dividend payout ratio is presently 47.35%.
Several analysts have weighed in on the company. Zacks Investment Research upgraded WesBanco from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, June 6th. BidaskClub upgraded WesBanco from a “hold” rating to a “buy” rating in a research report on Wednesday, July 25th. B. Riley boosted their price objective on WesBanco from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, June 19th. ValuEngine downgraded WesBanco from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 price objective on shares of WesBanco in a research report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $47.40.
In related news, EVP Michael L. Perkins sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $50.22, for a total transaction of $163,215.00. Following the completion of the transaction, the executive vice president now owns 12,008 shares in the company, valued at $603,041.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Brent E. Richmond sold 4,006 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $45.60, for a total value of $182,673.60. Following the transaction, the executive vice president now owns 19,635 shares of the company’s stock, valued at approximately $895,356. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,256 shares of company stock valued at $1,247,709. 4.14% of the stock is owned by corporate insiders.
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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