Inspire Investing LLC Sells 965 Shares of WesBanco, Inc. $WSBC

Inspire Investing LLC cut its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,390 shares of the financial services provider’s stock after selling 965 shares during the quarter. Inspire Investing LLC’s holdings in WesBanco were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in WesBanco by 40.3% in the first quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider’s stock worth $291,427,000 after acquiring an additional 2,702,469 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in WesBanco by 42.6% in the first quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider’s stock worth $179,358,000 after buying an additional 1,730,801 shares in the last quarter. Wellington Management Group LLP grew its holdings in WesBanco by 35.2% in the first quarter. Wellington Management Group LLP now owns 2,456,454 shares of the financial services provider’s stock worth $76,052,000 after purchasing an additional 640,003 shares during the last quarter. Earnest Partners LLC grew its holdings in WesBanco by 4.6% in the first quarter. Earnest Partners LLC now owns 1,859,436 shares of the financial services provider’s stock worth $57,568,000 after purchasing an additional 82,434 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of WesBanco by 179.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock valued at $47,779,000 after buying an additional 991,584 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of WesBanco from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.83.

WesBanco Price Performance

WesBanco stock opened at $31.61 on Monday. The firm has a market cap of $3.03 billion, a PE ratio of 19.04 and a beta of 0.85. WesBanco, Inc. has a 52-week low of $26.42 and a 52-week high of $37.36. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $31.81 and its two-hundred day moving average is $31.12.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. The business had revenue of $260.73 million for the quarter, compared to analyst estimates of $261.14 million. During the same period last year, the business earned $0.49 EPS. On average, research analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, September 5th. WesBanco’s dividend payout ratio (DPR) is presently 89.16%.

WesBanco Profile

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.