Principal Financial Group Inc. cut its holdings in WesBanco Inc (NASDAQ:WSBC) by 16.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,295 shares of the financial services provider’s stock after selling 1,248 shares during the quarter. Principal Financial Group Inc.’s holdings in WesBanco were worth $258,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Foundry Partners LLC boosted its stake in shares of WesBanco by 7.5% during the third quarter. Foundry Partners LLC now owns 185,884 shares of the financial services provider’s stock valued at $7,625,000 after purchasing an additional 12,902 shares in the last quarter. Third Avenue Management LLC boosted its stake in shares of WesBanco by 96.3% during the third quarter. Third Avenue Management LLC now owns 111,300 shares of the financial services provider’s stock valued at $4,566,000 after purchasing an additional 54,600 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in shares of WesBanco by 13.4% during the third quarter. Peregrine Capital Management LLC now owns 226,561 shares of the financial services provider’s stock valued at $9,294,000 after purchasing an additional 26,750 shares in the last quarter. Aperio Group LLC boosted its stake in shares of WesBanco by 52.3% during the third quarter. Aperio Group LLC now owns 9,800 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 3,367 shares in the last quarter. Finally, Piedmont Investment Advisors LLC boosted its stake in shares of WesBanco by 43.4% during the second quarter. Piedmont Investment Advisors LLC now owns 53,234 shares of the financial services provider’s stock valued at $2,105,000 after purchasing an additional 16,119 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Inc (WSBC) opened at $41.00 on Friday. WesBanco Inc has a 1 year low of $34.81 and a 1 year high of $44.19. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $1,762.21, a PE ratio of 16.75, a PEG ratio of 1.66 and a beta of 1.00.

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 Zacks’ consensus estimate of $0.63 by ($0.03). WesBanco had a return on equity of 7.66% and a net margin of 24.73%. The company had revenue of $95.15 million for the quarter, compared to the consensus estimate of $98.37 million. During the same quarter last year, the business earned $0.60 earnings per share. research analysts predict that WesBanco Inc will post 2.41 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.54%. WesBanco’s dividend payout ratio (DPR) is 44.44%.

A number of analysts have recently commented on WSBC shares. DA Davidson set a $47.00 price target on WesBanco and gave the company a “buy” rating in a research note on Friday, October 20th. They noted that the move was a valuation call. Sandler O’Neill lowered WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Boenning Scattergood reissued 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 company a “hold” rating in a research note on Friday, October 20th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $41.00 price target on shares of WesBanco in a research note on Tuesday, October 3rd. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. WesBanco presently has an average rating of “Hold” and an average price target of $42.00.

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WesBanco 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.

Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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