FJ Capital Management LLC Has $11.54 Million Stock Position in WesBanco, Inc. $WSBC

FJ Capital Management LLC lowered its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 46.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 347,136 shares of the financial services provider’s stock after selling 307,160 shares during the period. WesBanco comprises about 1.3% of FJ Capital Management LLC’s holdings, making the stock its 22nd biggest position. FJ Capital Management LLC’s holdings in WesBanco were worth $11,539,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of WesBanco by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 9,819,476 shares of the financial services provider’s stock worth $326,399,000 after buying an additional 224,107 shares in the last quarter. Wesbanco Bank Inc. increased its holdings 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 worth $52,196,000 after purchasing an additional 81,974 shares in the last quarter. Citigroup Inc. increased its holdings in WesBanco by 14.2% in the 3rd quarter. Citigroup Inc. now owns 162,667 shares of the financial services provider’s stock worth $5,194,000 after purchasing an additional 20,269 shares in the last quarter. SG Americas Securities LLC increased its holdings in WesBanco by 84.4% in the 4th quarter. SG Americas Securities LLC now owns 39,608 shares of the financial services provider’s stock worth $1,317,000 after purchasing an additional 18,131 shares in the last quarter. Finally, Gator Capital Management LLC acquired a new position in WesBanco in the 4th quarter worth about $1,462,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

Insider Buying and Selling at WesBanco

In other WesBanco news, Director Joseph R. Robinson bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average price of $34.54 per share, for a total transaction of $34,540.00. Following the transaction, the director directly owned 19,068 shares in the company, valued at approximately $658,608.72. This trade represents a 5.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Louis Michael Altman bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average price of $33.72 per share, for a total transaction of $101,160.00. Following the transaction, the director owned 33,164 shares in the company, valued at $1,118,290.08. This represents a 9.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 7,940 shares of company stock worth $267,299. Insiders own 2.07% of the company’s stock.

WesBanco Trading Up 2.1%

NASDAQ WSBC opened at $36.77 on Friday. The business’s 50-day moving average price is $34.75 and its two-hundred day moving average price is $34.60. WesBanco, Inc. has a 12 month low of $29.18 and a 12 month high of $38.10. The firm has a market capitalization of $3.54 billion, a PE ratio of 11.86 and a beta of 0.68. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The firm had revenue of $257.23 million for the quarter, compared to analyst estimates of $264.52 million. During the same quarter in the previous year, the company posted $0.66 EPS. The business’s revenue was down 3.1% on a year-over-year basis. On average, analysts expect that WesBanco, Inc. will post 3.59 EPS for the current year.

WesBanco announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 20th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, June 5th. WesBanco’s payout ratio is 49.03%.

Analyst Ratings Changes

WSBC has been the subject of a number of recent research reports. Weiss Ratings raised WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $41.00 target price on shares of WesBanco in a report on Thursday, March 12th. Zacks Research cut WesBanco from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. DA Davidson reaffirmed a “buy” rating and issued a $41.00 target price on shares of WesBanco in a report on Wednesday, April 22nd. Finally, Piper Sandler lowered their target price on WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

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.