Janney Montgomery Scott LLC Purchases 354 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Janney Montgomery Scott LLC raised its position in shares of WesBanco, Inc. (NASDAQ:WSBCGet Rating) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,332 shares of the financial services provider’s stock after acquiring an additional 354 shares during the quarter. Janney Montgomery Scott LLC’s holdings in WesBanco were worth $378,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WSBC. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of WesBanco by 70.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,235 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 4,627 shares during the last quarter. US Bancorp DE lifted its holdings in shares of WesBanco by 1.8% during the second quarter. US Bancorp DE now owns 64,611 shares of the financial services provider’s stock valued at $2,049,000 after purchasing an additional 1,165 shares during the last quarter. First Horizon Advisors Inc. purchased a new position in shares of WesBanco during the second quarter valued at approximately $101,000. Bank of Montreal Can lifted its holdings in shares of WesBanco by 1.5% during the second 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 purchased a new position in shares of WesBanco during the second quarter valued at approximately $1,046,000. 58.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WSBC has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of WesBanco in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James restated a “market perform” rating on shares of WesBanco in a report on Thursday, December 22nd. Finally, Piper Sandler initiated coverage on shares of WesBanco in a report on Monday, December 5th. They issued a “neutral” rating and a $41.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.67.

WesBanco Price Performance

Shares of WSBC opened at $35.87 on Wednesday. The firm has a market cap of $2.12 billion, a PE ratio of 11.88 and a beta of 0.91. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $37.96 and a two-hundred day simple moving average of $36.41. WesBanco, Inc. has a 1-year low of $29.50 and a 1-year high of $41.37.

WesBanco (NASDAQ:WSBCGet Rating) last announced its earnings results 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 business had revenue of $156.76 million during the quarter, compared to analyst estimates of $152.30 million. WesBanco had a net margin of 32.33% and a return on equity of 8.21%. On average, equities analysts anticipate that WesBanco, Inc. will post 3.04 EPS 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 given a dividend of $0.35 per share. This is an increase from WesBanco’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, December 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.90%. WesBanco’s payout ratio is presently 46.36%.

Insider Activity

In other news, EVP Jonathan D. Dargusch sold 1,512 shares of the business’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $39.44, for a total transaction of $59,633.28. Following the completion of the sale, the executive vice president now owns 25,103 shares of the company’s stock, valued at approximately $990,062.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Todd Clossin sold 5,000 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $41.16, for a total value of $205,800.00. Following the completion of the transaction, the chief executive officer now owns 122,423 shares of the company’s stock, valued at approximately $5,038,930.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan D. Dargusch sold 1,512 shares of the company’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $39.44, for a total transaction of $59,633.28. Following the completion of the transaction, the executive vice president now directly owns 25,103 shares of the company’s stock, valued at approximately $990,062.32. The disclosure for this sale can be found here. Insiders sold a total of 19,384 shares of company stock valued at $785,437 in the last 90 days. Company insiders own 3.15% of the company’s stock.

WesBanco Company Profile

(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.

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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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