Cwm LLC Raises Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Cwm LLC raised its holdings in shares of WesBanco, Inc. (NASDAQ:WSBCFree Report) by 175.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,072 shares of the financial services provider’s stock after purchasing an additional 1,319 shares during the period. Cwm LLC’s holdings in WesBanco were worth $62,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp raised its position in WesBanco by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock valued at $13,685,000 after purchasing an additional 21,297 shares during the last quarter. Envestnet Asset Management Inc. raised its position in WesBanco by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 227,429 shares of the financial services provider’s stock valued at $6,348,000 after purchasing an additional 6,043 shares during the last quarter. Sei Investments Co. raised its position in WesBanco by 1.7% during the 1st quarter. Sei Investments Co. now owns 209,011 shares of the financial services provider’s stock valued at $6,231,000 after purchasing an additional 3,425 shares during the last quarter. Empowered Funds LLC raised its position in WesBanco by 8.2% during the 1st quarter. Empowered Funds LLC now owns 163,952 shares of the financial services provider’s stock valued at $4,887,000 after purchasing an additional 12,392 shares during the last quarter. Finally, Millennium Management LLC raised its position in WesBanco by 466.7% during the 2nd quarter. Millennium Management LLC now owns 152,858 shares of the financial services provider’s stock valued at $4,266,000 after purchasing an additional 125,883 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

WesBanco Stock Down 0.2 %

WSBC stock opened at $30.29 on Monday. WesBanco, Inc. has a twelve month low of $23.04 and a twelve month high of $34.85. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.80 billion, a PE ratio of 12.62 and a beta of 0.82. The business has a 50 day moving average of $30.61 and a 200 day moving average of $29.31.

WesBanco (NASDAQ:WSBCGet Free Report) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. WesBanco had a return on equity of 5.90% and a net margin of 15.22%. The business had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. During the same period last year, the business posted $0.59 EPS. On average, research analysts forecast that WesBanco, Inc. will post 2.06 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, September 6th. This represents a $1.44 annualized dividend and a yield of 4.75%. WesBanco’s dividend payout ratio is 60.00%.

Insider Buying and Selling at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total transaction of $161,908.97. Following the sale, the executive vice president now directly owns 46,817 shares in the company, valued at approximately $1,413,405.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $35.00 price target on shares of WesBanco in a research report on Monday, September 9th. Keefe, Bruyette & Woods increased their target price on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. DA Davidson increased their target price on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Hovde Group increased their target price on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Stephens increased their target price on WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, WesBanco currently has a consensus rating of “Hold” and a consensus price target of $34.71.

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About WesBanco

(Free Report)

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.

See Also

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:WSBCFree Report).

Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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