Raymond James Financial Services Advisors Inc. Grows Position in WesBanco, Inc. (NASDAQ:WSBC)

Raymond James Financial Services Advisors Inc. raised its stake in shares of WesBanco, Inc. (NASDAQ:WSBC – Get Rating) by 3.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 36,780 shares of the financial services provider’s stock after acquiring an additional 1,261 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in WesBanco were worth $1,227,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WSBC. Ancora Advisors LLC bought a new position in WesBanco during the first quarter valued at approximately $43,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in WesBanco during the 1st quarter valued at $94,000. First Horizon Advisors Inc. bought a new position in shares of WesBanco during the 2nd quarter valued at $101,000. Captrust Financial Advisors boosted its stake in shares of WesBanco by 144.6% in the 1st quarter. Captrust Financial Advisors now owns 3,442 shares of the financial services provider’s stock worth $119,000 after buying an additional 2,035 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of WesBanco by 13.3% in the first quarter. Great West Life Assurance Co. Can now owns 5,133 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 602 shares during the period. Hedge funds and other institutional investors own 58.78% of the company’s stock.

WesBanco Price Performance

NASDAQ WSBC opened at $35.81 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.78 and a current ratio of 0.78. The business’s fifty day moving average is $38.20 and its 200 day moving average is $36.26. The company has a market capitalization of $2.12 billion, a PE ratio of 11.86 and a beta of 0.91. WesBanco, Inc. has a fifty-two week low of $29.50 and a fifty-two week high of $41.37.

WesBanco (NASDAQ:WSBC – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The firm had revenue of $156.76 million for the quarter, compared to analysts’ expectations of $152.30 million. WesBanco had a return on equity of 8.21% and a net margin of 32.33%. Sell-side analysts predict that WesBanco, Inc. will post 3.04 earnings per share for the current year.

WesBanco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.91%. This is an increase from WesBanco’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, December 8th. WesBanco’s dividend payout ratio (DPR) is presently 46.36%.

Wall Street Analysts Forecast Growth

WSBC has been the topic of a number of recent research reports. Piper Sandler assumed coverage on WesBanco in a report on Monday, December 5th. They issued a “neutral” rating and a $41.00 target price on the stock. Raymond James reiterated a “market perform” rating on shares of WesBanco in a research note on Thursday, December 22nd. Finally, StockNews.com began coverage on shares of WesBanco in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.67.

Insider Activity at WesBanco

In other WesBanco news, CEO Todd Clossin sold 5,000 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $41.16, for a total value of $205,800.00. Following the completion of the sale, the chief executive officer now owns 122,423 shares in the company, valued at approximately $5,038,930.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other WesBanco news, EVP Brent E. Richmond sold 5,372 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $39.89, for a total value of $214,289.08. Following the completion of the transaction, the executive vice president now directly owns 26,330 shares in the company, valued at approximately $1,050,303.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Clossin sold 5,000 shares of WesBanco stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $41.16, for a total transaction of $205,800.00. Following the sale, the chief executive officer now owns 122,423 shares in the company, valued at approximately $5,038,930.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,384 shares of company stock worth $785,437. 3.15% of the stock is owned by corporate 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.