Wesbanco Bank Inc. Increases Position in WesBanco, Inc. (WSBC)
Wesbanco Bank Inc. lifted its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,651,769 shares of the financial services provider’s stock after acquiring an additional 2,680 shares during the quarter. WesBanco makes up approximately 3.5% of Wesbanco Bank Inc.’s holdings, making the stock its biggest position. Wesbanco Bank Inc. owned about 3.75% of WesBanco worth $67,755,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in WSBC. UBS Asset Management Americas Inc. boosted its stake in WesBanco by 14.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 25,440 shares of the financial services provider’s stock worth $970,000 after purchasing an additional 3,267 shares during the period. Parametric Portfolio Associates LLC boosted its stake in WesBanco by 32.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 36,064 shares of the financial services provider’s stock worth $1,374,000 after purchasing an additional 8,739 shares during the period. FMR LLC boosted its stake in WesBanco by 27.1% in the 1st quarter. FMR LLC now owns 377,900 shares of the financial services provider’s stock worth $14,402,000 after purchasing an additional 80,600 shares during the period. Teachers Advisors LLC boosted its stake in WesBanco by 2.6% in the 1st quarter. Teachers Advisors LLC now owns 70,979 shares of the financial services provider’s stock worth $2,705,000 after purchasing an additional 1,797 shares during the period. Finally, Vanguard Group Inc. boosted its stake in WesBanco by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,461,403 shares of the financial services provider’s stock worth $131,915,000 after purchasing an additional 152,785 shares during the period. Institutional investors own 57.83% of the company’s stock.
Shares of WesBanco, Inc. (NASDAQ WSBC) traded down $0.91 on Tuesday, hitting $39.97. The stock had a trading volume of 127,092 shares, compared to its average volume of 95,276. The stock has a market cap of $1,760.00, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.68 and a beta of 1.00. WesBanco, Inc. has a twelve month low of $32.79 and a twelve month high of $44.19. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.85.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.03). The firm had revenue of $95.15 million for the quarter, compared to analysts’ expectations of $98.37 million. WesBanco had a return on equity of 7.66% and a net margin of 24.73%. During the same period last year, the company earned $0.60 earnings per share. analysts expect that WesBanco, Inc. will post 2.42 earnings per share for the current year.
Several research analysts have weighed in on the company. Zacks Investment Research downgraded WesBanco from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Sandler O’Neill downgraded WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Boenning Scattergood restated a “hold” rating on shares of WesBanco in a research note on Friday, October 20th. FBR & Co set a $40.00 price target on WesBanco and gave the stock a “hold” rating in a research note on Friday, October 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $41.00 price objective on shares of WesBanco in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.00.
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In other news, EVP Brent E. Richmond sold 1,440 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $36.83, for a total transaction of $53,035.20. Following the sale, the executive vice president now directly owns 22,701 shares of the company’s stock, valued at approximately $836,077.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.05% of the stock is owned by corporate insiders.
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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