Vanguard Personalized Indexing Management LLC Decreases Stake in WesBanco, Inc. $WSBC

Vanguard Personalized Indexing Management LLC reduced its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,136 shares of the financial services provider’s stock after selling 354 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in WesBanco were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of WSBC. Federated Hermes Inc. purchased a new position in shares of WesBanco in the first quarter worth about $26,000. Smartleaf Asset Management LLC raised its stake in WesBanco by 132.5% during the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 510 shares during the period. Creative Financial Designs Inc. ADV purchased a new position in WesBanco during the first quarter worth about $48,000. Caitong International Asset Management Co. Ltd raised its stake in WesBanco by 573.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,878 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,599 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in WesBanco by 1,553.3% during the first quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,895 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Price Performance

Shares of WSBC opened at $31.31 on Friday. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The stock has a market cap of $3.01 billion, a PE ratio of 15.97 and a beta of 0.85. The firm has a 50-day simple moving average of $32.10 and a two-hundred day simple moving average of $31.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. WesBanco had a net margin of 13.91% and a return on equity of 8.55%. The business had revenue of $261.58 million during the quarter, compared to analysts’ expectations of $263.38 million. During the same period last year, the business earned $0.54 earnings per share. As a group, analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were issued a $0.37 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.7%. WesBanco’s payout ratio is 75.51%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WSBC. DA Davidson downgraded shares of WesBanco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Wall Street Zen downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Royal Bank Of Canada lifted their target price on shares of WesBanco from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of WesBanco in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, WesBanco presently has a consensus rating of “Moderate Buy” and an average price target of $39.17.

Insider Transactions at WesBanco

In other WesBanco news, Director Todd Clossin acquired 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the acquisition, the director owned 8,000 shares of the company’s stock, valued at approximately $200,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph R. Robinson acquired 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was acquired at an average price of $25.00 per share, with a total value of $200,000.00. Following the acquisition, the director directly owned 8,000 shares of the company’s stock, valued at approximately $200,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 49,600 shares of company stock valued at $1,240,000. 2.80% of the stock is owned by corporate insiders.

WesBanco Company 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.