WesBanco, Inc. $WSBC Shares Sold by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC trimmed its position in WesBanco, Inc. (NASDAQ:WSBC) by 50.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,085 shares of the financial services provider’s stock after selling 22,189 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in WesBanco were worth $862,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted its stake in shares of WesBanco by 12,500.0% in the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 750 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in shares of WesBanco in the fourth quarter valued at about $29,000. Federated Hermes Inc. increased its stake in shares of WesBanco by 71.9% during the second quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 600 shares during the period. Strs Ohio increased its stake in shares of WesBanco by 54.5% during the fourth quarter. Strs Ohio now owns 1,700 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 600 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in WesBanco during the second quarter worth about $57,000. 61.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WesBanco

In related news, EVP Jayson M. Zatta sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $41.80, for a total value of $522,500.00. Following the sale, the executive vice president owned 81,082 shares in the company, valued at $3,389,227.60. This represents a 13.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert H. Friend sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $42.06, for a total value of $84,120.00. Following the completion of the transaction, the executive vice president directly owned 17,361 shares of the company’s stock, valued at $730,203.66. The trade was a 10.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 39,695 shares of company stock worth $1,630,995. Corporate insiders own 2.07% of the company’s stock.

WesBanco Stock Down 1.3%

Shares of NASDAQ WSBC opened at $39.48 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. WesBanco, Inc. has a 52 week low of $29.57 and a 52 week high of $43.02. The firm has a 50-day moving average price of $40.59 and a 200 day moving average price of $36.86. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 11.48 and a beta of 0.66.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. The firm had revenue of $275.79 million for the quarter, compared to the consensus estimate of $267.71 million. Equities research analysts anticipate that WesBanco, Inc. will post 3.57 EPS for the current fiscal year.

WesBanco declared that its board has initiated a stock repurchase program on Wednesday, May 20th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.52 annualized dividend and a dividend yield of 3.9%. WesBanco’s payout ratio is 44.19%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WSBC shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $42.00 price objective on shares of WesBanco in a report on Thursday, July 23rd. DA Davidson set a $46.00 target price on WesBanco in a research note on Thursday, July 23rd. Royal Bank Of Canada raised their price target on WesBanco from $41.00 to $44.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of WesBanco in a research note on Monday, August 3rd. Finally, Piper Sandler upped their price objective on WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, WesBanco currently has an average rating of “Moderate Buy” and a consensus price target of $43.20.

WesBanco Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.