WesBanco, Inc. (WSBC) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. decreased its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 15.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,115 shares of the financial services provider’s stock after selling 56,496 shares during the period. Russell Investments Group Ltd. owned approximately 0.68% of WesBanco worth $12,270,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Deprince Race & Zollo Inc. grew its position in shares of WesBanco by 1.1% during the third quarter. Deprince Race & Zollo Inc. now owns 632,741 shares of the financial services provider’s stock valued at $25,955,000 after purchasing an additional 7,149 shares in the last quarter. Smithfield Trust Co. grew its position in shares of WesBanco by 290.6% during the third quarter. Smithfield Trust Co. now owns 13,618 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 10,132 shares in the last quarter. River Road Asset Management LLC grew its position in shares of WesBanco by 41.4% during the third quarter. River Road Asset Management LLC now owns 537,197 shares of the financial services provider’s stock valued at $22,036,000 after purchasing an additional 157,370 shares in the last quarter. Foundry Partners LLC grew its position 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. Finally, Third Avenue Management LLC grew its position 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. Hedge funds and other institutional investors own 59.16% of the company’s stock.
WesBanco, Inc. (NASDAQ WSBC) opened at $41.78 on Friday. The company has a market capitalization of $1,852.48, a PE ratio of 17.60, a P/E/G ratio of 1.74 and a beta of 1.00. WesBanco, Inc. has a 12-month low of $34.81 and a 12-month high of $44.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.89 and a quick ratio of 0.89.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.03). The company had revenue of $95.15 million during 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 quarter in the prior year, the business posted $0.60 EPS. analysts expect that WesBanco, Inc. will post 2.41 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be given a $0.26 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.04 annualized dividend and a yield of 2.49%. WesBanco’s dividend payout ratio is currently 44.44%.
WSBC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $41.00 price objective on shares of WesBanco in a research report on Tuesday, October 3rd. Sandler O’Neill lowered WesBanco from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. B. Riley set a $40.00 price target on WesBanco and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research lowered WesBanco from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Finally, FBR & Co set a $40.00 price target on WesBanco and gave the stock a “hold” rating in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.00.
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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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