Y Intercept Hong Kong Ltd purchased a new position in shares of WesBanco, Inc. (NASDAQ:WSBC – Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,899 shares of the financial services provider’s stock, valued at approximately $335,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Independence Bank of Kentucky purchased a new stake in WesBanco during the first quarter worth about $29,000. Ancora Advisors LLC purchased a new stake in WesBanco during the first quarter worth about $43,000. Resurgent Financial Advisors LLC purchased a new stake in WesBanco during the fourth quarter worth about $50,000. EMC Capital Management purchased a new stake in WesBanco during the fourth quarter worth about $78,000. Finally, Global Wealth Management Investment Advisory Inc. purchased a new stake in WesBanco during the first quarter worth about $94,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. StockNews.com assumed coverage on shares of WesBanco in a research note on Thursday. They set a “sell” rating on the stock. Piper Sandler upped their target price on shares of WesBanco from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 31st. Royal Bank of Canada cut their target price on shares of WesBanco from $36.00 to $32.00 in a research note on Wednesday, April 26th. Finally, DA Davidson cut their target price on shares of WesBanco from $38.00 to $31.00 in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.17.
Read Our Latest Analysis on WSBC
Insider Buying and Selling at WesBanco
In related news, Director Gregory S. Proctor, Jr. purchased 3,500 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were bought at an average cost of $28.08 per share, for a total transaction of $98,280.00. Following the completion of the purchase, the director now directly owns 41,913 shares of the company’s stock, valued at approximately $1,176,917.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.07% of the stock is currently owned by insiders.
WesBanco Stock Up 0.3 %
WSBC stock opened at $26.34 on Friday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 8.58 and a beta of 0.91. WesBanco, Inc. has a fifty-two week low of $19.84 and a fifty-two week high of $41.37. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.90 and a current ratio of 0.90. The company’s 50 day moving average price is $26.75 and its 200 day moving average price is $29.08.
WesBanco (NASDAQ:WSBC – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $153.41 million for the quarter, compared to analyst estimates of $151.14 million. WesBanco had a net margin of 26.04% and a return on equity of 8.49%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. On average, equities research analysts anticipate that WesBanco, Inc. will post 2.61 EPS for the current fiscal year.
WesBanco Announces Dividend
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 of this dividend was Thursday, June 8th. This represents a $1.40 annualized dividend and a yield of 5.32%. WesBanco’s dividend payout ratio is currently 45.60%.
WesBanco Company 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.
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