Park Avenue Securities LLC Invests $206,000 in WesBanco, Inc. $WSBC

Park Avenue Securities LLC acquired a new stake in WesBanco, Inc. (NASDAQ:WSBC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 6,507 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other hedge funds have also recently bought and sold shares of WSBC. Wealth Enhancement Advisory Services LLC lifted its position in shares of WesBanco by 61.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,650 shares of the financial services provider’s stock worth $628,000 after buying an additional 7,084 shares during the last quarter. Wesbanco Bank Inc. raised its stake in shares of WesBanco by 9.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 1,565,869 shares of the financial services provider’s stock valued at $49,528,000 after acquiring an additional 136,975 shares in the last quarter. Voya Investment Management LLC lifted its holdings in WesBanco by 98.5% in the 1st quarter. Voya Investment Management LLC now owns 34,483 shares of the financial services provider’s stock worth $1,068,000 after purchasing an additional 17,107 shares during the last quarter. Rhumbline Advisers boosted its position in WesBanco by 41.7% during the first quarter. Rhumbline Advisers now owns 133,759 shares of the financial services provider’s stock worth $4,141,000 after purchasing an additional 39,388 shares during the period. Finally, Strs Ohio acquired a new position in WesBanco during the first quarter valued at approximately $152,000. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Stock Performance

NASDAQ:WSBC opened at $32.01 on Thursday. WesBanco, Inc. has a 52-week low of $26.42 and a 52-week high of $37.36. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 19.28 and a beta of 0.85. The firm’s 50-day moving average is $31.56 and its 200-day moving average is $31.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94.

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, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $260.73 million for the quarter, compared to analyst estimates of $261.14 million. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.During the same quarter last year, the firm earned $0.49 EPS. Equities research analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, September 5th. WesBanco’s dividend payout ratio (DPR) is presently 89.16%.

Insider Buying and Selling at WesBanco

In related news, Director Joseph R. Robinson bought 8,000 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was acquired at an average cost of $25.00 per share, with a total value of $200,000.00. Following the acquisition, the director owned 8,000 shares in the company, valued at approximately $200,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory S. Proctor, Jr. purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the purchase, the director owned 2,000 shares in the company, valued at $50,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 49,600 shares of company stock worth $1,240,000 in the last 90 days. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.83.

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.