WesBanco, Inc. (WSBC) Stake Lowered by LSV Asset Management
LSV Asset Management decreased its position in WesBanco, Inc. (NASDAQ:WSBC) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 338,511 shares of the financial services provider’s stock after selling 3,900 shares during the quarter. LSV Asset Management owned approximately 0.77% of WesBanco worth $13,384,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its position in shares of WesBanco by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,419 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 32 shares during the period. Blair William & Co. IL raised its position in shares of WesBanco by 0.7% in the second quarter. Blair William & Co. IL now owns 11,033 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 73 shares during the period. IFP Advisors Inc raised its position in shares of WesBanco by 0.7% in the second quarter. IFP Advisors Inc now owns 17,010 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 116 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of WesBanco by 0.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 29,070 shares of the financial services provider’s stock valued at $1,149,000 after purchasing an additional 155 shares during the period. Finally, Alpha Windward LLC raised its position in shares of WesBanco by 2.6% in the second quarter. Alpha Windward LLC now owns 11,940 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 300 shares during the period. 58.12% of the stock is currently owned by institutional investors.
In other WesBanco news, EVP Brent E. Richmond sold 1,440 shares of the stock in a transaction 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 transaction, the executive vice president now owns 22,701 shares in the company, valued at approximately $836,077.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.05% of the company’s stock.
Shares of WesBanco, Inc. (NASDAQ WSBC) opened at 37.69 on Friday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 17.22 and a beta of 0.95. WesBanco, Inc. has a one year low of $31.63 and a one year high of $44.19. The firm has a 50-day moving average of $37.30 and a 200 day moving average of $38.47.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). WesBanco had a net margin of 23.44% and a return on equity of 7.55%. The business had revenue of $94.26 million for the quarter, compared to analyst estimates of $96.70 million. During the same period in the prior year, the business earned $0.58 EPS. Equities research analysts anticipate that WesBanco, Inc. will post $2.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, September 7th. WesBanco’s dividend payout ratio is 47.71%.
A number of equities analysts recently issued reports on WSBC shares. FBR & Co reaffirmed a “mkt perform” rating and set a $40.00 target price (down previously from $44.00) on shares of WesBanco in a research report on Thursday, July 20th. BidaskClub raised shares of WesBanco from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. ValuEngine raised shares of WesBanco from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Zacks Investment Research raised shares of WesBanco from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Wednesday, June 21st. Finally, DA Davidson raised shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $41.60.
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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