Oppenheimer Asset Management Inc. Cuts Position in WesBanco, Inc. $WSBC

Oppenheimer Asset Management Inc. trimmed its position in WesBanco, Inc. (NASDAQ:WSBC) by 2.4% during the second quarter, HoldingsChannel.com reports. The firm owned 61,261 shares of the financial services provider’s stock after selling 1,528 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in WesBanco were worth $1,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in WesBanco during the 2nd quarter worth approximately $471,000. Sequoia Financial Advisors LLC grew its stake in WesBanco by 5.7% during the second quarter. Sequoia Financial Advisors LLC now owns 59,963 shares of the financial services provider’s stock worth $1,897,000 after buying an additional 3,240 shares during the period. CWM LLC grew its stake in WesBanco by 88.9% during the second quarter. CWM LLC now owns 23,422 shares of the financial services provider’s stock worth $741,000 after buying an additional 11,021 shares during the period. Johnson Investment Counsel Inc. lifted its holdings in shares of WesBanco by 69.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,655 shares of the financial services provider’s stock valued at $432,000 after acquiring an additional 5,591 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of WesBanco by 7.8% during the 2nd quarter. Inspire Investing LLC now owns 12,281 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 891 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Stock Performance

NASDAQ:WSBC opened at $29.94 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The firm has a 50-day moving average of $32.06 and a two-hundred day moving average of $31.37. The stock has a market cap of $2.87 billion, a P/E ratio of 15.28 and a beta of 0.85.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.89 by $0.05. WesBanco had a return on equity of 8.55% and a net margin of 13.91%.The business had revenue of $261.58 million for the quarter, compared to analysts’ expectations of $263.38 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. On average, research analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.9%. WesBanco’s dividend payout ratio (DPR) is presently 75.51%.

Analyst Upgrades and Downgrades

Several research analysts have commented on WSBC shares. Weiss Ratings reissued a “hold (c)” rating on shares of WesBanco in a research report on Wednesday, October 8th. Wall Street Zen lowered WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. DA Davidson lowered WesBanco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada upped their price target on WesBanco from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report 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 given a Hold rating to the company’s stock. According to MarketBeat, WesBanco presently has a consensus rating of “Moderate Buy” and an average price target of $39.17.

Insider Buying and Selling at WesBanco

In related news, Director F Eric Nelson, Jr. acquired 8,000 shares of WesBanco stock in a transaction on Wednesday, September 17th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the purchase, the director directly owned 8,000 shares of the company’s stock, valued at $200,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory S. Proctor, Jr. acquired 2,000 shares of WesBanco stock in a transaction on Wednesday, September 17th. The shares were bought at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the director directly owned 2,000 shares in the company, valued at $50,000. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 49,600 shares of company stock valued at $1,240,000. Corporate insiders own 2.80% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.