WesBanco, Inc. $WSBC Holdings Increased by Brant Point Investment Management LLC

Brant Point Investment Management LLC increased its position in WesBanco, Inc. (NASDAQ:WSBC) by 32.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 420,000 shares of the financial services provider’s stock after purchasing an additional 103,915 shares during the quarter. WesBanco accounts for 1.4% of Brant Point Investment Management LLC’s portfolio, making the stock its 4th largest position. Brant Point Investment Management LLC owned 0.44% of WesBanco worth $13,285,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in WesBanco by 40.3% in the 1st quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider’s stock worth $291,427,000 after buying an additional 2,702,469 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of WesBanco by 42.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider’s stock worth $179,358,000 after acquiring an additional 1,730,801 shares during the last quarter. Wellington Management Group LLP increased its position in shares of WesBanco by 35.2% during 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 acquiring an additional 640,003 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of WesBanco by 7.8% in the second quarter. Geode Capital Management LLC now owns 2,389,477 shares of the financial services provider’s stock worth $75,588,000 after acquiring an additional 172,276 shares in the last quarter. Finally, Earnest Partners LLC boosted its holdings in WesBanco by 4.6% in the first quarter. Earnest Partners LLC now owns 1,859,436 shares of the financial services provider’s stock valued at $57,568,000 after purchasing an additional 82,434 shares during the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at WesBanco

In related news, Director Joseph R. Robinson acquired 8,000 shares of WesBanco 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 transaction, the director directly owned 8,000 shares of the company’s stock, valued at $200,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO K Weiss Daniel bought 4,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the chief financial officer directly owned 4,000 shares of the company’s stock, valued at $100,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 52,921 shares of company stock valued at $1,339,995 over the last ninety days. Insiders own 2.80% of the company’s stock.

WesBanco Stock Performance

Shares of WSBC opened at $32.68 on Monday. The business’s fifty day moving average price is $31.64 and its 200 day moving average price is $31.61. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.18. The stock has a market capitalization of $3.14 billion, a PE ratio of 16.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.05. WesBanco had a net margin of 13.91% and a return on equity of 8.28%. The firm had revenue of $261.58 million during the quarter, compared to analyst estimates of $263.38 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Equities research analysts forecast that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.7%. This is a positive change from WesBanco’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, December 5th. WesBanco’s dividend payout ratio (DPR) is currently 77.55%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WSBC. Royal Bank Of Canada lifted their price objective on WesBanco from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Wall Street Zen lowered shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of WesBanco in a report on Monday, December 1st. Finally, DA Davidson lowered shares of WesBanco from a “strong-buy” rating to a “hold” rating in a 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 given a Hold rating to the company. According to MarketBeat.com, WesBanco currently has an average rating of “Moderate Buy” and an average 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.