Intech Investment Management LLC Has $1.83 Million Stake in WesBanco, Inc. $WSBC

Intech Investment Management LLC increased its position in WesBanco, Inc. (NASDAQ:WSBC) by 13.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,735 shares of the financial services provider’s stock after purchasing an additional 6,770 shares during the period. Intech Investment Management LLC’s holdings in WesBanco were worth $1,826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Federated Hermes Inc. acquired a new position in WesBanco during the first quarter worth $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of WesBanco during the second quarter worth about $26,000. Smartleaf Asset Management LLC raised its holdings in shares of WesBanco by 132.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 510 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in 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 acquiring an additional 1,599 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position 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 valued at $62,000 after acquiring an additional 1,895 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. DA Davidson lowered WesBanco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Wall Street Zen downgraded WesBanco from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Royal Bank Of Canada raised their price objective on 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 reaffirmed a “hold (c+)” rating on shares of WesBanco in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

WesBanco Stock Performance

Shares of WesBanco stock opened at $31.41 on Friday. The business’s fifty day simple moving average is $31.50 and its 200 day simple moving average is $31.53. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36. The firm has a market capitalization of $3.02 billion, a P/E ratio of 16.03 and a beta of 0.89.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. The firm had revenue of $261.58 million during the quarter, compared to the consensus estimate of $263.38 million. WesBanco had a return on equity of 8.55% and a net margin of 13.91%.During the same quarter in the prior year, the company earned $0.54 EPS. As a group, analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be given a $0.38 dividend. This is a positive change from WesBanco’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, December 5th. WesBanco’s payout ratio is presently 75.51%.

Insiders Place Their Bets

In related news, Director Joseph R. Robinson purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were bought at an average price of $25.00 per share, with a total value of $200,000.00. Following the acquisition, the director owned 8,000 shares of the company’s stock, valued at $200,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director F Eric Nelson, Jr. acquired 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the purchase, the director owned 8,000 shares of the company’s stock, valued at $200,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 52,921 shares of company stock valued at $1,339,995. Company 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.