WesBanco, Inc. (NASDAQ:WSBC) Stock Position Increased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. boosted its position in WesBanco, Inc. (NASDAQ:WSBC – Free Report) by 2,127.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,552 shares of the financial services provider’s stock after purchasing an additional 7,213 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in WesBanco were worth $279,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WSBC. Norges Bank bought a new stake in WesBanco in the 4th quarter valued at about $19,533,000. Dimensional Fund Advisors LP lifted its position in WesBanco by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,606,697 shares of the financial services provider’s stock valued at $170,356,000 after purchasing an additional 106,068 shares during the last quarter. LSV Asset Management lifted its position in WesBanco by 25.9% in the 4th quarter. LSV Asset Management now owns 453,058 shares of the financial services provider’s stock valued at $16,754,000 after purchasing an additional 93,344 shares during the last quarter. Vanguard Group Inc. lifted its position in WesBanco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,973,790 shares of the financial services provider’s stock valued at $205,259,000 after purchasing an additional 75,273 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in WesBanco by 759.3% in the 2nd quarter. Citadel Advisors LLC now owns 55,759 shares of the financial services provider’s stock valued at $1,768,000 after purchasing an additional 49,270 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

WesBanco Stock Performance

Shares of WSBC opened at $25.61 on Friday. The firm’s 50 day moving average is $25.01 and its 200-day moving average is $31.33. The stock has a market capitalization of $1.52 billion, a P/E ratio of 8.45 and a beta of 0.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88. WesBanco, Inc. has a 12-month low of $19.84 and a 12-month high of $41.37.

WesBanco (NASDAQ:WSBC – Free Report) last announced its quarterly earnings data on Monday, April 24th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.06). The business had revenue of $151.99 million during the quarter, compared to analyst estimates of $157.27 million. WesBanco had a return on equity of 8.40% and a net margin of 28.13%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Equities research analysts anticipate that WesBanco, Inc. will post 2.7 EPS for the current fiscal year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Friday, June 9th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend was Thursday, June 8th. WesBanco’s dividend payout ratio is currently 46.20%.

Wall Street Analysts Forecast Growth

WSBC has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of WesBanco from $34.00 to $29.00 in a research report on Monday, May 1st. Stephens initiated 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. Royal Bank of Canada dropped their price target on shares of WesBanco from $36.00 to $32.00 in a research report on Wednesday, April 26th. Keefe, Bruyette & Woods dropped their price target on shares of WesBanco from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. Finally, StockNews.com initiated coverage on shares of WesBanco in a research report on Thursday, May 18th. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, WesBanco currently has a consensus rating of “Hold” and a consensus price target of $31.57.

Insider Buying and Selling

In related news, Director Robert J. Fitzsimmons purchased 15,500 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was acquired at an average cost of $23.10 per share, for a total transaction of $358,050.00. Following the completion of the acquisition, the director now owns 46,908 shares in the company, valued at approximately $1,083,574.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other WesBanco news, COO Jeffrey H. Jackson bought 5,000 shares of WesBanco stock in a transaction on Tuesday, May 9th. The stock was purchased at an average cost of $22.34 per share, for a total transaction of $111,700.00. Following the completion of the purchase, the chief operating officer now directly owns 17,627 shares of the company’s stock, valued at $393,787.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert J. Fitzsimmons bought 15,500 shares of WesBanco stock in a transaction on Monday, May 8th. The stock was acquired at an average price of $23.10 per share, with a total value of $358,050.00. Following the completion of the purchase, the director now directly owns 46,908 shares of the company’s stock, valued at $1,083,574.80. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 25,500 shares of company stock worth $603,155. 3.07% of the stock is owned by company insiders.

WesBanco Profile

(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.

Featured Articles

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

Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report