Russell Investments Group Ltd. Sells 49,593 Shares of WesBanco, Inc. (NASDAQ:WSBC)
Russell Investments Group Ltd. decreased its position in WesBanco, Inc. (NASDAQ:WSBC) by 12.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 355,611 shares of the financial services provider’s stock after selling 49,593 shares during the period. Russell Investments Group Ltd.’s holdings in WesBanco were worth $14,061,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of WSBC. Ameritas Investment Partners Inc. purchased a new position in WesBanco during the first quarter worth about $132,000. Eqis Capital Management Inc. bought a new stake in shares of WesBanco during the first quarter worth $219,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of WesBanco by 7.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,783 shares of the financial services provider’s stock worth $220,000 after buying an additional 419 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of WesBanco during the first quarter worth $254,000. Finally, SG Americas Securities LLC bought a new stake in shares of WesBanco during the first quarter worth $267,000. 56.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of WesBanco, Inc. (NASDAQ:WSBC) traded down 1.65% during midday trading on Friday, reaching $35.84. The company had a trading volume of 52,696 shares. The company’s 50 day moving average price is $38.88 and its 200-day moving average price is $39.21. The company has a market capitalization of $1.58 billion, a P/E ratio of 16.37 and a beta of 0.94. WesBanco, Inc. has a 52 week low of $30.46 and a 52 week high of $44.19.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The company had revenue of $94.26 million for the quarter, compared to analysts’ expectations of $96.70 million. WesBanco had a net margin of 23.44% and a return on equity of 7.55%. During the same period in the prior year, the company earned $0.58 earnings per share. On average, equities research analysts predict that WesBanco, Inc. will post $2.45 earnings per share for the current fiscal year.
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A number of equities research analysts recently weighed in on the company. BidaskClub downgraded WesBanco from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded WesBanco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. FBR & Co dropped their price objective on WesBanco from $44.00 to $40.00 and set a “mkt perform” rating on the stock in a research report on Friday, July 21st. ValuEngine raised WesBanco from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Finally, DA Davidson raised WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. WesBanco currently has a consensus rating of “Hold” and a consensus price target of $41.60.
WesBanco Company Profile
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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