Commonwealth Equity Services LLC decreased its holdings in WesBanco, Inc. (NASDAQ:WSBC – Get Rating) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,491 shares of the financial services provider’s stock after selling 549 shares during the quarter. Commonwealth Equity Services LLC’s holdings in WesBanco were worth $757,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its position in WesBanco by 7.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 102,460 shares of the financial services provider’s stock valued at $3,789,000 after acquiring an additional 6,712 shares during the period. Segall Bryant & Hamill LLC raised its position in WesBanco by 3.0% in the third quarter. Segall Bryant & Hamill LLC now owns 615,998 shares of the financial services provider’s stock worth $20,557,000 after acquiring an additional 17,693 shares in the last quarter. Creative Planning grew its position in WesBanco by 6.2% during the third quarter. Creative Planning now owns 32,695 shares of the financial services provider’s stock worth $1,091,000 after buying an additional 1,918 shares during the period. Bridge City Capital LLC grew its position in WesBanco by 3.6% during the third quarter. Bridge City Capital LLC now owns 46,337 shares of the financial services provider’s stock worth $1,546,000 after buying an additional 1,589 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in WesBanco by 21.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,003 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 1,577 shares in the last quarter. Hedge funds and other institutional investors own 58.78% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on WSBC shares. Piper Sandler cut their target price on shares of WesBanco from $34.00 to $29.00 in a research report on Monday, May 1st. Royal Bank of Canada dropped their price objective on shares of WesBanco from $36.00 to $32.00 in a research note on Wednesday, April 26th. DA Davidson lowered their price target on WesBanco from $38.00 to $31.00 in a research report on Wednesday, April 26th. Stephens initiated coverage on shares of WesBanco in a research note on Monday, April 3rd. They set an “equal weight” rating and a $28.00 price objective for the company. Finally, Keefe, Bruyette & Woods decreased their price target on shares of WesBanco from $40.00 to $35.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, WesBanco currently has a consensus rating of “Hold” and a consensus target price of $31.57.
WesBanco Price Performance
WesBanco (NASDAQ:WSBC – Get Rating) last announced its quarterly earnings data on Monday, April 24th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.06). WesBanco had a net margin of 28.13% and a return on equity of 8.40%. The firm had revenue of $151.99 million for the quarter, compared to analyst estimates of $157.27 million. During the same quarter in the previous year, the company earned $0.70 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Sell-side analysts expect that WesBanco, Inc. will post 2.74 earnings per share for the current fiscal year.
WesBanco Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Investors of record on Friday, March 10th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, March 9th. This represents a $1.40 dividend on an annualized basis and a yield of 5.62%. WesBanco’s payout ratio is currently 46.20%.
Insider Transactions at WesBanco
In other WesBanco news, COO Jeffrey H. Jackson bought 5,000 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average cost of $22.34 per share, for a total transaction of $111,700.00. Following the transaction, the chief operating officer now directly owns 17,627 shares in the company, valued at $393,787.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Jeffrey H. Jackson bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average price of $22.34 per share, with a total value of $111,700.00. Following the completion of the acquisition, the chief operating officer now directly owns 17,627 shares in the company, valued at $393,787.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Fitzsimmons purchased 15,500 shares of the stock in a transaction dated Monday, May 8th. The shares were purchased at an average price of $23.10 per share, for a total transaction of $358,050.00. Following the completion of the transaction, the director now owns 46,908 shares in the company, valued at approximately $1,083,574.80. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 22,000 shares of company stock worth $504,875. Insiders own 3.07% of the company’s stock.
WesBanco Company Profile
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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