100,289 Shares in WesBanco, Inc. $WSBC Purchased by Deutsche Bank AG

Deutsche Bank AG purchased a new position in shares of WesBanco, Inc. (NASDAQ:WSBC) during the second quarter, Holdings Channel.com reports. The fund purchased 100,289 shares of the financial services provider’s stock, valued at approximately $3,914,000.

Several other hedge funds have also made changes to their positions in WSBC. Vanguard Group Inc. grew its position in shares of WesBanco by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 9,819,476 shares of the financial services provider’s stock worth $326,399,000 after acquiring an additional 224,107 shares during the last quarter. Wesbanco Bank Inc. lifted its position in WesBanco by 5.5% in the 4th quarter. Wesbanco Bank Inc. now owns 1,570,275 shares of the financial services provider’s stock valued at $52,196,000 after purchasing an additional 81,974 shares during the last quarter. Hsbc Holdings PLC acquired a new position in WesBanco during the 4th quarter valued at about $1,492,000. Edgestream Partners L.P. grew its position in WesBanco by 65.0% in the 1st quarter. Edgestream Partners L.P. now owns 240,829 shares of the financial services provider’s stock worth $8,306,000 after purchasing an additional 94,863 shares during the last quarter. Finally, Gator Capital Management LLC bought a new position in WesBanco in the 4th quarter worth about $1,462,000. Institutional investors own 61.41% of the company’s stock.

WesBanco Stock Down 0.5%

Shares of WSBC stock opened at $40.51 on Wednesday. WesBanco, Inc. has a 1 year low of $29.57 and a 1 year high of $43.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.94. The business’s fifty day moving average is $40.22 and its 200-day moving average is $36.76. The stock has a market cap of $3.89 billion, a PE ratio of 11.78 and a beta of 0.67.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.07. The business had revenue of $275.79 million during the quarter, compared to analysts’ expectations of $267.71 million. WesBanco had a return on equity of 9.72% and a net margin of 23.35%. Equities analysts expect that WesBanco, Inc. will post 3.57 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, September 4th. This represents a $1.52 annualized dividend and a dividend yield of 3.8%. WesBanco’s dividend payout ratio (DPR) is 44.19%.

WesBanco announced that its board has approved a share repurchase plan on Wednesday, May 20th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WSBC shares. Royal Bank Of Canada lifted 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. Zacks Research raised WesBanco from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Wall Street Zen upgraded WesBanco from a “sell” rating to a “hold” rating in a research report on Saturday. Piper Sandler boosted their price target on WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $42.00 price target on shares of WesBanco in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.20.

Insider Activity at WesBanco

In other news, EVP Jan Pattishall-Krupinski sold 4,500 shares of WesBanco stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $36.71, for a total value of $165,195.00. Following the transaction, the executive vice president owned 35,924 shares of the company’s stock, valued at $1,318,770.04. The trade was a 11.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jayson M. Zatta sold 12,500 shares of the business’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 transaction of $522,500.00. Following the completion of the sale, the executive vice president owned 81,082 shares in the company, valued at $3,389,227.60. The trade was a 13.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 39,695 shares of company stock worth $1,630,995. Company insiders own 2.07% of the company’s stock.

WesBanco Company 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.