Cwm LLC Acquires 24,461 Shares of WesBanco, Inc. $WSBC

Cwm LLC boosted its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 104.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,883 shares of the financial services provider’s stock after purchasing an additional 24,461 shares during the period. Cwm LLC’s holdings in WesBanco were worth $1,529,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Investing LLC grew its stake in WesBanco by 16.4% in the 3rd quarter. Inspire Investing LLC now owns 14,298 shares of the financial services provider’s stock valued at $457,000 after buying an additional 2,017 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of WesBanco by 2.9% in the 2nd quarter. Corient Private Wealth LLC now owns 49,085 shares of the financial services provider’s stock valued at $1,553,000 after purchasing an additional 1,370 shares in the last quarter. Capital A Wealth Management LLC boosted its stake in shares of WesBanco by 1,002.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 1,951 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,774 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of WesBanco by 108.0% during the 2nd quarter. Osaic Holdings Inc. now owns 150,637 shares of the financial services provider’s stock valued at $4,765,000 after acquiring an additional 78,214 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in WesBanco by 29.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 42,849 shares of the financial services provider’s stock valued at $1,355,000 after buying an additional 9,660 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on WSBC shares. Piper Sandler began coverage on shares of WesBanco in a research report on Wednesday, December 17th. They set an “overweight” rating and a $42.00 target price for the company. Wall Street Zen cut shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings restated a “hold (c+)” rating on shares of WesBanco in a report on Monday, December 29th. DA Davidson downgraded shares of WesBanco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, 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 note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Insider Transactions at WesBanco

In related news, Director F Eric Nelson, Jr. sold 752 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $33.37, for a total value of $25,094.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Zahid Afzal bought 3,321 shares of the stock in a transaction dated Thursday, October 30th. The shares were acquired at an average price of $30.11 per share, with a total value of $99,995.31. Following the completion of the acquisition, the director directly owned 13,223 shares of the company’s stock, valued at approximately $398,144.53. The trade was a 33.54% increase in their position. The SEC filing for this purchase provides additional information. 2.80% of the stock is owned by corporate insiders.

WesBanco Price Performance

Shares of NASDAQ:WSBC opened at $33.34 on Monday. The company’s fifty day moving average is $32.46 and its 200 day moving average is $32.09. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. WesBanco, Inc. has a 52 week low of $26.42 and a 52 week high of $37.18. The stock has a market cap of $3.20 billion, a PE ratio of 17.01 and a beta of 0.80.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data 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. The firm 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 8.28% and a net margin of 13.91%.During the same quarter in the previous year, the company posted $0.54 earnings per share. Research analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, December 5th. This is a positive change from WesBanco’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 4.6%. WesBanco’s payout ratio is 77.55%.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.