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

Raymond James Financial Services Advisors Inc. increased its position in WesBanco, Inc. (NASDAQ:WSBCGet Rating) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,780 shares of the financial services provider’s stock after buying an additional 1,261 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.06% of WesBanco worth $1,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WSBC. Vanguard Group Inc. grew its holdings in WesBanco by 1.3% in the 1st 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 during the last quarter. Macquarie Group Ltd. grew its stake in shares of WesBanco by 4.1% in the second quarter. Macquarie Group Ltd. now owns 1,751,689 shares of the financial services provider’s stock worth $55,546,000 after purchasing an additional 68,395 shares during the last quarter. Citadel Advisors LLC increased its holdings in WesBanco by 759.3% during the 2nd quarter. Citadel Advisors LLC now owns 55,759 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 49,270 shares during the period. Goldman Sachs Group Inc. raised its position in WesBanco by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 182,294 shares of the financial services provider’s stock valued at $6,264,000 after purchasing an additional 45,759 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in WesBanco by 12.3% in the 2nd quarter. Victory Capital Management Inc. now owns 411,878 shares of the financial services provider’s stock worth $13,061,000 after buying an additional 45,227 shares during the period. 58.78% of the stock is currently owned by institutional investors.

WesBanco Price Performance

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. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 11.86 and a beta of 0.91. The stock has a fifty day simple moving average of $38.20 and a two-hundred day simple moving average of $36.26. WesBanco, Inc. has a 12-month low of $29.50 and a 12-month high of $41.37.

WesBanco (NASDAQ:WSBCGet Rating) last released its earnings results on Tuesday, October 25th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. WesBanco had a net margin of 32.33% and a return on equity of 8.21%. The firm had revenue of $156.76 million for the quarter, compared to the consensus estimate of $152.30 million. Research analysts predict that WesBanco, Inc. will post 3.04 earnings per share for the current fiscal year.

WesBanco Increases Dividend

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

Insider Buying and Selling at WesBanco

In other 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 sale, the chief executive officer now directly owns 122,423 shares of the company’s stock, valued at $5,038,930.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Jonathan D. Dargusch sold 1,512 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $990,062.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd Clossin sold 5,000 shares of the firm’s 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 directly owns 122,423 shares of the company’s stock, valued at approximately $5,038,930.68. 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 insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WSBC. Piper Sandler initiated coverage on WesBanco in a research note on Monday, December 5th. They set a “neutral” rating and a $41.00 target price on the stock. Raymond James reissued a “market perform” rating on shares of WesBanco in a research report on Thursday, December 22nd. Finally, StockNews.com started coverage on shares of WesBanco in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.67.

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

Want to see what other hedge funds are holding WSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WesBanco, Inc. (NASDAQ:WSBCGet Rating).

Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

Receive News & Ratings for WesBanco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WesBanco and related companies with MarketBeat.com's FREE daily email newsletter.