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

Raymond James Financial Services Advisors Inc. boosted its stake in WesBanco, Inc. (NASDAQ:WSBCGet Rating) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,780 shares of the financial services provider’s stock after purchasing an additional 1,261 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in WesBanco were worth $1,227,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of WesBanco by 70.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,235 shares of the financial services provider’s stock worth $375,000 after acquiring an additional 4,627 shares during the period. US Bancorp DE boosted its position in WesBanco by 1.8% in the second quarter. US Bancorp DE now owns 64,611 shares of the financial services provider’s stock worth $2,049,000 after purchasing an additional 1,165 shares during the last quarter. First Horizon Advisors Inc. bought a new stake in shares of WesBanco during the 2nd quarter valued at about $101,000. Bank of Montreal Can increased its position in shares of WesBanco by 1.5% during the 2nd quarter. Bank of Montreal Can now owns 26,296 shares of the financial services provider’s stock valued at $849,000 after purchasing an additional 385 shares during the last quarter. Finally, Alpha DNA Investment Management LLC bought a new position in shares of WesBanco in the 2nd quarter worth approximately $1,046,000. 58.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on WSBC. Raymond James restated a “market perform” rating on shares of WesBanco in a research report on Thursday, December 22nd. StockNews.com assumed coverage on shares of WesBanco in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Piper Sandler initiated coverage on WesBanco in a report on Monday, December 5th. They issued a “neutral” rating and a $41.00 target price on the stock. 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.

WesBanco Price Performance

NASDAQ WSBC opened at $35.81 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.15. WesBanco, Inc. has a 12 month low of $29.50 and a 12 month high of $41.37. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 11.86 and a beta of 0.91. The company’s 50 day moving average is $38.20 and its two-hundred day moving average is $36.26.

WesBanco (NASDAQ:WSBCGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. The firm had revenue of $156.76 million for the quarter, compared to the consensus estimate of $152.30 million. WesBanco had a net margin of 32.33% and a return on equity of 8.21%. As a group, research analysts anticipate that WesBanco, Inc. will post 3.04 earnings per share for the current year.

WesBanco Increases Dividend

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

Insider Buying and Selling

In other WesBanco news, EVP Jonathan D. Dargusch sold 1,512 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $39.44, for a total value of $59,633.28. Following the completion of the transaction, the executive vice president now directly owns 25,103 shares in the company, valued at approximately $990,062.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other WesBanco news, EVP Brent E. Richmond sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $40.36, for a total value of $121,080.00. Following the sale, the executive vice president now owns 26,330 shares in the company, valued at approximately $1,062,678.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan D. Dargusch sold 1,512 shares of the firm’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $39.44, for a total value of $59,633.28. Following the transaction, the executive vice president now owns 25,103 shares of the company’s stock, valued at approximately $990,062.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,384 shares of company stock worth $785,437. 3.15% of the stock is owned by corporate insiders.

About WesBanco

(Get Rating)

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

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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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