WesBanco, Inc. $WSBC Stock Position Lowered by Atria Investments Inc

Atria Investments Inc lowered its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 7.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 26,881 shares of the financial services provider’s stock after selling 2,260 shares during the quarter. Atria Investments Inc’s holdings in WesBanco were worth $850,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of WSBC. Federated Hermes Inc. acquired a new position in WesBanco in the first quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its stake in WesBanco by 132.5% in the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 510 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of WesBanco by 573.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,878 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,599 shares during the period. Jones Financial Companies Lllp boosted its stake in WesBanco by 1,553.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,895 shares during the period. Finally, Summit Securities Group LLC bought a new stake in WesBanco during the first quarter worth about $68,000. Hedge funds and other institutional investors own 61.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WSBC shares. Wall Street Zen cut WesBanco from a “buy” rating to a “hold” rating in a report on Friday, September 26th. DA Davidson lowered WesBanco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Royal Bank Of Canada upped their price target on shares of WesBanco from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of WesBanco in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, WesBanco has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

WesBanco Stock Up 1.9%

Shares of WSBC stock opened at $30.90 on Friday. The stock has a market cap of $2.97 billion, a P/E ratio of 15.77 and a beta of 0.89. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $31.76 and a two-hundred day simple moving average of $31.46. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36.

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

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Friday, September 5th. WesBanco’s dividend payout ratio is 75.51%.

Insider Activity

In other news, CFO K Weiss Daniel acquired 4,000 shares of WesBanco stock in a transaction on Wednesday, September 17th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the acquisition, the chief financial officer directly owned 4,000 shares of the company’s stock, valued at $100,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gregory S. Proctor, Jr. acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was purchased at an average price of $25.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at $50,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 52,921 shares of company stock valued at $1,339,995. Insiders own 2.80% of the company’s stock.

About WesBanco

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.