Y Intercept Hong Kong Ltd Takes Position in WesBanco, Inc. $WSBC

Y Intercept Hong Kong Ltd acquired a new stake in WesBanco, Inc. (NASDAQ:WSBC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,136 shares of the financial services provider’s stock, valued at approximately $637,000.

Several other hedge funds also recently modified their holdings of WSBC. Vanguard Group Inc. boosted its position in shares of WesBanco by 40.3% in the first quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider’s stock valued at $291,427,000 after acquiring an additional 2,702,469 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $179,358,000 after acquiring an additional 1,730,801 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of WesBanco by 179.7% in 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 acquiring an additional 991,584 shares during the period. Nuveen LLC bought a new stake in shares of WesBanco in the first quarter valued at approximately $22,282,000. Finally, Wellington Management Group LLP lifted its position 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 period. 61.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other WesBanco news, Director Zahid Afzal bought 3,321 shares of the stock in a transaction dated Thursday, October 30th. The stock was bought at an average cost of $30.11 per share, for a total transaction of $99,995.31. Following the completion of the purchase, the director owned 13,223 shares in the company, valued at $398,144.53. This represents a 33.54% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO K Weiss Daniel bought 4,000 shares of the stock in a transaction dated Wednesday, September 17th. The stock was acquired at an average price of $25.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the chief financial officer owned 4,000 shares of the company’s stock, valued at $100,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 52,921 shares of company stock valued at $1,339,995 in the last 90 days. 2.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Royal Bank Of Canada raised their target price on WesBanco from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Wall Street Zen cut WesBanco from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of WesBanco in a research report on Wednesday, October 8th. Finally, DA Davidson cut WesBanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One investment 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.com, WesBanco currently has an average rating of “Moderate Buy” and a consensus target price of $39.17.

WesBanco Stock Performance

WesBanco stock opened at $30.60 on Thursday. WesBanco, Inc. has a 52-week low of $26.42 and a 52-week high of $37.36. The firm has a market capitalization of $2.94 billion, a P/E ratio of 15.61 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a fifty day moving average price of $31.85 and a two-hundred day moving average price of $31.45.

WesBanco (NASDAQ:WSBC) last announced its 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 return on equity of 8.55% and a net margin of 13.91%.The company had revenue of $261.58 million during the quarter, compared to analyst estimates of $263.38 million. During the same period last year, the company posted $0.54 earnings per share. As a group, analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were paid 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 4.8%. WesBanco’s dividend payout ratio (DPR) is 75.51%.

About WesBanco

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.