Wells Fargo & Company MN Buys 37,148 Shares of WesBanco Inc (WSBC)
Wells Fargo & Company MN boosted its stake in shares of WesBanco Inc (NASDAQ:WSBC) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 324,511 shares of the financial services provider’s stock after purchasing an additional 37,148 shares during the period. Wells Fargo & Company MN owned 0.70% of WesBanco worth $14,466,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Financial Advisors Inc. acquired a new position in WesBanco during the third quarter valued at approximately $108,000. WealthTrust Fairport LLC acquired a new position in WesBanco during the second quarter valued at approximately $118,000. Stratos Wealth Partners LTD. acquired a new position in WesBanco during the third quarter valued at approximately $138,000. Horan Capital Advisors LLC. acquired a new position in WesBanco during the second quarter valued at approximately $186,000. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in WesBanco during the third quarter valued at approximately $202,000. 56.97% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the company. BidaskClub cut WesBanco from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research cut WesBanco from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a research report on Saturday, November 17th. B. Riley set a $45.00 price objective on WesBanco and gave the company a “hold” rating in a research report on Friday, November 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of WesBanco in a research report on Friday, October 26th. Finally, ValuEngine cut WesBanco from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. WesBanco presently has a consensus rating of “Hold” and a consensus target price of $47.25.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.14). WesBanco had a net margin of 24.22% and a return on equity of 9.04%. The business had revenue of $116.16 million during the quarter, compared to analyst estimates of $109.07 million. During the same period in the previous year, the business earned $0.60 earnings per share. As a group, equities research analysts anticipate that WesBanco Inc will post 3.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.86%. WesBanco’s payout ratio is 47.35%.
In other news, EVP Brent E. Richmond sold 4,006 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $45.60, for a total transaction of $182,673.60. Following the transaction, the executive vice president now owns 19,635 shares in the company, valued at $895,356. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.14% of the company’s stock.
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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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