WesBanco, Inc. $WSBC Stock Holdings Decreased by Creative Planning

Creative Planning lowered its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,481 shares of the financial services provider’s stock after selling 4,722 shares during the quarter. Creative Planning owned 0.10% of WesBanco worth $2,957,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in WesBanco during the 1st quarter worth approximately $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of WesBanco in the second quarter worth $26,000. Smartleaf Asset Management LLC boosted its position in shares of WesBanco by 132.5% in the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider’s stock worth $28,000 after buying an additional 510 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of 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 valued at $58,000 after buying an additional 1,599 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position 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 valued at $62,000 after buying an additional 1,895 shares during the period. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Stock Performance

Shares of WSBC stock opened at $31.41 on Monday. 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, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36. The stock’s 50-day moving average is $31.50 and its two-hundred day moving average is $31.55. The firm has a market cap of $3.02 billion, a P/E ratio of 16.03 and a beta of 0.89.

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

WesBanco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.8%. This is a boost from WesBanco’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, December 5th. WesBanco’s dividend payout ratio is presently 77.55%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WSBC. Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a research note on Tuesday, November 18th. Wall Street Zen downgraded WesBanco from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Royal Bank Of Canada increased their price target on shares of WesBanco from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Finally, DA Davidson downgraded shares of WesBanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.17.

Insider Buying and Selling

In other WesBanco news, Director Zahid Afzal bought 3,321 shares of the stock in a transaction on Thursday, October 30th. The shares were purchased at an average cost of $30.11 per share, with a total value of $99,995.31. Following the completion of the transaction, the director directly owned 13,223 shares of the company’s stock, valued at $398,144.53. This represents a 33.54% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director F Eric Nelson, Jr. bought 8,000 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were bought 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 represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 52,921 shares of company stock valued at $1,339,995. 2.80% of the stock is owned by company insiders.

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.