Swiss National Bank Maintains Stake in WesBanco, Inc. (WSBC)
Swiss National Bank maintained its position in shares of WesBanco, Inc. (NASDAQ:WSBC) during the first quarter, Holdings Channel reports. The firm owned 68,500 shares of the financial services provider’s stock at the end of the first quarter. Swiss National Bank’s holdings in WesBanco were worth $2,611,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Denver Investment Advisors LLC acquired a new position in shares of WesBanco during the fourth quarter valued at approximately $208,000. Eqis Capital Management Inc. acquired a new position in shares of WesBanco during the first quarter valued at approximately $219,000. Menta Capital LLC acquired a new position in shares of WesBanco during the fourth quarter valued at approximately $297,000. HPM Partners LLC acquired a new position in shares of WesBanco during the first quarter valued at approximately $297,000. Finally, BB&T Corp boosted its position in shares of WesBanco by 2.8% in the first quarter. BB&T Corp now owns 9,031 shares of the financial services provider’s stock valued at $345,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 56.96% of the company’s stock.
Shares of WesBanco, Inc. (NASDAQ:WSBC) opened at 39.74 on Friday. The firm has a 50-day moving average of $38.93 and a 200-day moving average of $40.03. The firm has a market cap of $1.75 billion, a PE ratio of 18.42 and a beta of 0.96. WesBanco, Inc. has a 52 week low of $29.44 and a 52 week high of $44.19.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $0.60 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.60. The business had revenue of $93.60 million during the quarter, compared to analyst estimates of $94.82 million. WesBanco had a net margin of 23.39% and a return on equity of 7.57%. WesBanco’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. On average, analysts expect that WesBanco, Inc. will post $2.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 9th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.62%. WesBanco’s dividend payout ratio (DPR) is presently 48.15%.
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Several research analysts recently commented on WSBC shares. Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, March 29th. Sandler O’Neill upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a report on Wednesday, March 29th. ValuEngine upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. DA Davidson upgraded shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods set a $42.00 target price on shares of WesBanco and gave the stock a “hold” rating in a report on Monday, April 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. WesBanco has an average rating of “Buy” and an average target price of $39.60.
In other WesBanco news, EVP Gregory A. Dugan sold 8,000 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $40.72, for a total transaction of $325,760.00. Following the completion of the sale, the executive vice president now owns 13,051 shares in the company, valued at approximately $531,436.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brent E. Richmond sold 5,000 shares of the business’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $40.86, for a total transaction of $204,300.00. Following the sale, the executive vice president now owns 23,302 shares of the company’s stock, valued at approximately $952,119.72. The disclosure for this sale can be found here. Insiders own 4.05% of the company’s stock.
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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