LPL Financial LLC Buys 3,715 Shares of WesBanco, Inc. (NASDAQ:WSBC)

LPL Financial LLC raised its stake in WesBanco, Inc. (NASDAQ:WSBC – Get Rating) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,285 shares of the financial services provider’s stock after buying an additional 3,715 shares during the quarter. LPL Financial LLC owned about 0.10% of WesBanco worth $2,155,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WSBC. Quadrant Capital Group LLC raised its holdings in shares of WesBanco by 116.1% in the third quarter. Quadrant Capital Group LLC now owns 804 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 432 shares during the last quarter. Ancora Advisors LLC acquired a new position in WesBanco during the first quarter worth $43,000. Global Wealth Management Investment Advisory Inc. acquired a new position in WesBanco during the first quarter worth $94,000. Captrust Financial Advisors increased its holdings in WesBanco by 144.6% during the first quarter. Captrust Financial Advisors now owns 3,442 shares of the financial services provider’s stock worth $119,000 after buying an additional 2,035 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in WesBanco by 9.6% during the third quarter. Great West Life Assurance Co. Can now owns 5,200 shares of the financial services provider’s stock worth $174,000 after buying an additional 455 shares during the last quarter. Institutional investors own 58.78% of the company’s stock.

WesBanco Trading Up 2.9 %

Shares of WesBanco stock opened at $24.02 on Tuesday. The firm has a 50-day moving average of $27.75 and a 200-day moving average of $34.12. The stock has a market cap of $1.42 billion, a PE ratio of 7.93 and a beta of 0.90. WesBanco, Inc. has a 52-week low of $19.84 and a 52-week high of $41.37. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 0.88.

WesBanco (NASDAQ:WSBC – Get Rating) last posted its quarterly earnings data on Monday, April 24th. The financial services provider reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.06). The firm had revenue of $151.99 million for the quarter, compared to the consensus estimate of $157.27 million. WesBanco had a return on equity of 8.40% and a net margin of 28.13%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. As a group, sell-side analysts forecast that WesBanco, Inc. will post 2.74 EPS for the current year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Stockholders of record on Friday, March 10th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.83%. The ex-dividend date was Thursday, March 9th. WesBanco’s dividend payout ratio (DPR) is 46.20%.

Insider Activity at WesBanco

In other WesBanco news, Director Robert J. Fitzsimmons purchased 15,500 shares of WesBanco stock in a transaction that occurred on Monday, May 8th. The stock was acquired at an average price of $23.10 per share, with a total value of $358,050.00. Following the transaction, the director now owns 46,908 shares in the company, valued at approximately $1,083,574.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other WesBanco news, Director Robert J. Fitzsimmons bought 15,500 shares of the stock in a transaction dated Monday, May 8th. The shares were bought at an average cost of $23.10 per share, for a total transaction of $358,050.00. Following the purchase, the director now directly owns 46,908 shares of the company’s stock, valued at approximately $1,083,574.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey H. Jackson bought 5,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was purchased at an average cost of $22.34 per share, with a total value of $111,700.00. Following the purchase, the chief operating officer now owns 17,627 shares of the company’s stock, valued at $393,787.18. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 22,000 shares of company stock valued at $504,875. 3.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WSBC. Royal Bank of Canada lowered their target price on shares of WesBanco from $36.00 to $32.00 in a report on Wednesday, April 26th. Piper Sandler reduced their price objective on shares of WesBanco from $34.00 to $29.00 in a research report on Monday, May 1st. Stephens began coverage on shares of WesBanco in a research report on Monday, April 3rd. They set an “equal weight” rating and a $28.00 price objective for the company. StockNews.com began coverage on shares of WesBanco in a research report on Thursday, May 18th. They set a “sell” rating for the company. Finally, Keefe, Bruyette & Woods reduced their price objective 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 research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.57.

About WesBanco

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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.