VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in WesBanco, Inc. $WSBC

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in WesBanco, Inc. (NASDAQ:WSBC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,900 shares of the financial services provider’s stock, valued at approximately $471,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WSBC. Wealth Enhancement Advisory Services LLC increased its stake in shares of WesBanco by 52.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,566 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 3,958 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of WesBanco by 25.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,743 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 2,983 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of WesBanco by 258.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider’s stock valued at $1,215,000 after purchasing an additional 28,302 shares during the period. Spire Wealth Management grew its position in shares of WesBanco by 34,162.5% in the 1st quarter. Spire Wealth Management now owns 13,705 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 13,665 shares during the period. Finally, HBK Sorce Advisory LLC acquired a new position in shares of WesBanco in the 1st quarter valued at approximately $300,000. 61.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other WesBanco news, Director Joseph R. Robinson purchased 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the purchase, the director owned 8,000 shares in the company, valued at approximately $200,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director F Eric Nelson, Jr. purchased 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, for a total transaction of $200,000.00. Following the purchase, the director owned 8,000 shares in the company, valued at $200,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 49,600 shares of company stock worth $1,240,000 in the last quarter. Company insiders own 2.80% of the company’s stock.

WesBanco Trading Up 2.0%

NASDAQ WSBC opened at $31.31 on Friday. The company has a market cap of $3.01 billion, a PE ratio of 15.97 and a beta of 0.85. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36. The stock has a 50 day moving average of $32.10 and a 200-day moving average of $31.29.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.89 by $0.05. The company had revenue of $261.58 million during the quarter, compared to the consensus estimate of $263.38 million. WesBanco had a return on equity of 8.55% and a net margin of 13.91%.During the same quarter in the prior year, the firm posted $0.54 EPS. On average, equities research analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WSBC shares. DA Davidson lowered WesBanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of WesBanco in a research report on Friday. Royal Bank Of Canada boosted their price objective on WesBanco from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Finally, Wall Street Zen lowered WesBanco from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

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.