WesBanco, Inc. (NASDAQ:WSBC) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its stake in shares of WesBanco, Inc. (NASDAQ:WSBCGet Rating) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,092 shares of the financial services provider’s stock after selling 511 shares during the period. Arizona State Retirement System’s holdings in WesBanco were worth $587,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WSBC. Allworth Financial LP lifted its holdings in WesBanco by 293.6% in the first quarter. Allworth Financial LP now owns 1,051 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 784 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in WesBanco by 414.0% in the first quarter. Lindbrook Capital LLC now owns 1,362 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,097 shares during the last quarter. Confluence Wealth Services Inc. acquired a new position in WesBanco in the fourth quarter valued at approximately $55,000. Allegheny Financial Group LTD acquired a new position in WesBanco in the fourth quarter valued at approximately $74,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in WesBanco in the fourth quarter valued at approximately $125,000. 60.61% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Stock Up 0.7 %

WesBanco stock opened at $33.83 on Thursday. WesBanco, Inc. has a twelve month low of $29.50 and a twelve month high of $38.37. The stock’s fifty day simple moving average is $32.44 and its 200-day simple moving average is $33.92. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.04 billion, a P/E ratio of 12.04 and a beta of 0.92.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 10th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Thursday, June 9th. WesBanco’s dividend payout ratio is currently 48.40%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. B. Riley decreased their price objective on WesBanco from $32.00 to $29.00 in a report on Monday, July 11th. Piper Sandler lowered WesBanco from a “neutral” rating to an “underweight” rating and set a $34.00 target price on the stock. in a research report on Wednesday, May 4th. Finally, DA Davidson reissued a “buy” rating on shares of WesBanco in a research report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.67.

Insider Transactions at WesBanco

In other news, CEO Todd Clossin sold 5,000 shares of the company’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $32.34, for a total transaction of $161,700.00. Following the sale, the chief executive officer now owns 129,393 shares of the company’s stock, valued at $4,184,569.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Jonathan D. Dargusch sold 2,000 shares of the company’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $34.05, for a total transaction of $68,100.00. Following the sale, the executive vice president now owns 26,615 shares of the company’s stock, valued at $906,240.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Clossin sold 5,000 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $32.34, for a total transaction of $161,700.00. Following the transaction, the chief executive officer now owns 129,393 shares of the company’s stock, valued at approximately $4,184,569.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,000 shares of company stock valued at $295,340. 3.15% of the stock is currently owned by company insiders.

WesBanco Profile

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WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit.

Further Reading

Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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