Victory Capital Management Inc. Has $13.43 Million Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Victory Capital Management Inc. lifted its position in shares of WesBanco, Inc. (NASDAQ:WSBC – Free Report) by 11.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 437,403 shares of the financial services provider’s stock after buying an additional 43,504 shares during the quarter. Victory Capital Management Inc. owned about 0.74% of WesBanco worth $13,428,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WSBC. Independence Bank of Kentucky acquired a new stake in WesBanco in the first quarter worth $29,000. Ancora Advisors LLC acquired a new stake in WesBanco in the first quarter worth $43,000. Resurgent Financial Advisors LLC bought a new position in shares of WesBanco in the fourth quarter valued at $50,000. EMC Capital Management bought a new position in shares of WesBanco in the fourth quarter valued at $78,000. Finally, Global Wealth Management Investment Advisory Inc. bought a new position in shares of WesBanco in the first quarter valued at $94,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of WesBanco from $36.00 to $32.00 in a research note on Wednesday, April 26th. Stephens assumed coverage on shares of WesBanco in a research report on Monday, April 3rd. They set an “equal weight” rating and a $28.00 price target on the stock. DA Davidson dropped their price target on shares of WesBanco from $38.00 to $31.00 in a research report on Wednesday, April 26th. StockNews.com assumed coverage on shares of WesBanco in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Finally, Piper Sandler dropped their price target on shares of WesBanco from $34.00 to $29.00 in a research report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, WesBanco currently has an average rating of “Hold” and a consensus price target of $32.00.

WesBanco Price Performance

WSBC opened at $28.18 on Monday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 9.18 and a beta of 0.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $26.23 and a 200-day moving average price of $29.88. WesBanco, Inc. has a twelve month low of $19.84 and a twelve month high of $41.37.

WesBanco (NASDAQ:WSBC – Get Free Report) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $153.41 million during the quarter, compared to the consensus estimate of $151.14 million. WesBanco had a net margin of 26.04% and a return on equity of 8.52%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share. Equities analysts expect that WesBanco, Inc. will post 2.64 EPS for the current year.

WesBanco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Shareholders of record on Friday, June 9th were paid a $0.35 dividend. The ex-dividend date was Thursday, June 8th. This represents a $1.40 dividend on an annualized basis and a yield of 4.97%. WesBanco’s dividend payout ratio is presently 45.60%.

Insiders Place Their Bets

In related news, Director Gregory S. Proctor, Jr. purchased 3,500 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was acquired at an average price of $28.08 per share, with a total value of $98,280.00. Following the purchase, the director now directly owns 41,913 shares in the company, valued at $1,176,917.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other WesBanco news, Director Robert J. Fitzsimmons acquired 15,500 shares of the stock in a transaction dated Monday, May 8th. The stock was purchased at an average cost of $23.10 per share, for a total transaction of $358,050.00. Following the acquisition, the director now owns 46,908 shares in the company, valued at approximately $1,083,574.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory S. Proctor, Jr. acquired 3,500 shares of the stock in a transaction dated Thursday, June 8th. The stock was acquired at an average price of $28.08 per share, with a total value of $98,280.00. Following the completion of the acquisition, the director now owns 41,913 shares in the company, valued at approximately $1,176,917.04. The disclosure for this purchase can be found here. Insiders purchased a total of 25,500 shares of company stock valued at $603,155 in the last quarter. Corporate 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.

Read More

Want to see what other hedge funds are holding WSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WesBanco, Inc. (NASDAQ:WSBC – Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider WesBanco, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and WesBanco wasn’t on the list.

While WesBanco currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report