Swiss National Bank Cuts Stake in WesBanco, Inc. (NASDAQ:WSBC)

Swiss National Bank lessened its stake in WesBanco, Inc. (NASDAQ:WSBCGet Rating) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,545 shares of the financial services provider’s stock after selling 5,000 shares during the period. Swiss National Bank owned 0.24% of WesBanco worth $4,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WSBC. Victory Capital Management Inc. grew its stake in WesBanco by 79.9% in the first quarter. Victory Capital Management Inc. now owns 366,651 shares of the financial services provider’s stock valued at $11,821,000 after purchasing an additional 162,811 shares during the last quarter. Vanguard Group Inc. boosted its holdings in WesBanco by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,973,790 shares of the financial services provider’s stock worth $205,259,000 after acquiring an additional 75,273 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in WesBanco by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 182,294 shares of the financial services provider’s stock worth $6,264,000 after acquiring an additional 45,759 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in WesBanco by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,271,700 shares of the financial services provider’s stock worth $146,777,000 after acquiring an additional 38,103 shares in the last quarter. Finally, Pinz Capital Management LP acquired a new stake in WesBanco in the first quarter worth about $1,213,000. Hedge funds and other institutional investors own 58.36% of the company’s stock.

Insider Buying and Selling

In related news, CEO Todd Clossin sold 5,000 shares of WesBanco stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $41.16, for a total transaction of $205,800.00. Following the completion of the sale, the chief executive officer now owns 122,423 shares of the company’s stock, valued at $5,038,930.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other WesBanco news, CEO Todd Clossin sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 122,423 shares of the company’s stock, valued at $5,038,930.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jayson M. Zatta sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $41.03, for a total value of $184,635.00. Following the completion of the transaction, the executive vice president now directly owns 53,151 shares of the company’s stock, valued at $2,180,785.53. The disclosure for this sale can be found here. Insiders sold 17,872 shares of company stock valued at $725,804 over the last quarter. 3.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on WSBC. StockNews.com began coverage on WesBanco in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Janney Montgomery Scott began coverage on WesBanco in a report on Tuesday, September 6th. They issued a “neutral” rating and a $37.00 price target for the company.

WesBanco Trading Down 1.3 %

WesBanco stock opened at $40.27 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.15. WesBanco, Inc. has a 52 week low of $29.50 and a 52 week high of $41.37. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 13.33 and a beta of 0.92. The stock has a 50-day moving average price of $37.84 and a 200 day moving average price of $34.80.

WesBanco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a dividend of $0.35 per share. This is an increase from WesBanco’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, December 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.48%. WesBanco’s payout ratio is 45.03%.

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.

See Also

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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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