ExodusPoint Capital Management LP Grows Holdings in WesBanco, Inc. (NASDAQ:WSBC)

ExodusPoint Capital Management LP grew its stake in WesBanco, Inc. (NASDAQ:WSBC – Free Report) by 99.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,386 shares of the financial services provider’s stock after buying an additional 46,068 shares during the period. ExodusPoint Capital Management LP owned approximately 0.16% of WesBanco worth $2,836,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Independence Bank of Kentucky bought a new stake in shares of WesBanco in the 1st quarter worth approximately $29,000. Ancora Advisors LLC bought a new stake in shares of WesBanco in the 1st quarter worth approximately $43,000. Resurgent Financial Advisors LLC bought a new stake in shares of WesBanco in the 4th quarter worth approximately $50,000. Tower Research Capital LLC TRC lifted its holdings in shares of WesBanco by 552.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,625 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 1,376 shares during the last quarter. Finally, EMC Capital Management bought a new stake in shares of WesBanco in the 4th quarter worth approximately $78,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

WesBanco Stock Down 0.2 %

Shares of NASDAQ WSBC opened at $25.35 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.72. WesBanco, Inc. has a 12 month low of $19.84 and a 12 month high of $41.37. The firm has a market capitalization of $1.50 billion, a PE ratio of 8.26 and a beta of 0.91. The firm has a fifty day simple moving average of $26.51 and a two-hundred day simple moving average of $28.25.

WesBanco (NASDAQ:WSBC – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. WesBanco had a net margin of 26.04% and a return on equity of 8.49%. The business had revenue of $153.41 million during the quarter, compared to analyst estimates of $151.14 million. During the same period in the prior year, the business earned $0.67 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts expect that WesBanco, Inc. will post 2.61 earnings per share for the current year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.35 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.40 annualized dividend and a yield of 5.52%. WesBanco’s dividend payout ratio (DPR) is presently 45.60%.

Analyst Ratings Changes

A number of research firms recently commented on WSBC. StockNews.com upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a report on Monday. Piper Sandler upped their price target on shares of WesBanco from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 31st. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.17.

Get Our Latest Stock Report on WesBanco

Insiders Place Their Bets

In related news, Director Gregory S. Proctor, Jr. acquired 3,500 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was acquired at an average cost of $28.08 per share, for a total transaction of $98,280.00. Following the acquisition, the director now owns 41,913 shares of the company’s stock, valued at $1,176,917.04. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.07% of the company’s stock.

About WesBanco

(Free Report)

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services.

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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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