Wescott Financial Advisory Group LLC purchased a new stake in WesBanco, Inc. (NASDAQ:WSBC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,333 shares of the financial services provider’s stock, valued at approximately $272,000.
A number of other institutional investors also recently modified their holdings of WSBC. Capital Analysts LLC bought a new position in shares of WesBanco during the 1st quarter worth about $28,000. Nisa Investment Advisors LLC bought a new position in shares of WesBanco during the 2nd quarter worth about $36,000. Captrust Financial Advisors bought a new position in shares of WesBanco during the 1st quarter worth about $51,000. Carolina Wealth Advisors LLC lifted its holdings in shares of WesBanco by 28.3% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 3,890 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 858 shares during the period. Finally, HighTower Advisors LLC bought a new position in shares of WesBanco during the 1st quarter worth about $200,000. 62.31% of the stock is owned by hedge funds and other institutional investors.
Shares of WesBanco stock traded up $0.34 during mid-day trading on Wednesday, reaching $31.32. 2,476 shares of the stock were exchanged, compared to its average volume of 253,554. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 9.17 and a beta of 1.09. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $33.24 and a 200 day simple moving average of $35.64. WesBanco, Inc. has a fifty-two week low of $19.56 and a fifty-two week high of $39.87.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 10th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.21%. The ex-dividend date is Thursday, September 9th. WesBanco’s payout ratio is presently 70.21%.
A number of equities analysts have recently commented on WSBC shares. Zacks Investment Research downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a report on Thursday, August 5th. Raymond James cut shares of WesBanco from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 8th. Finally, B. Riley reiterated a “neutral” rating on shares of WesBanco in a research report on Tuesday, July 27th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.25.
WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.
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