WesBanco, Inc. $WSBC Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 89.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 267,532 shares of the financial services provider's stock after acquiring an additional 126,087 shares during the period. Edgestream Partners L.P. owned 0.28% of WesBanco worth $8,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Bayview Asset Management LLC raised its holdings in WesBanco by 343.0% in the 2nd quarter. Bayview Asset Management LLC now owns 54,000 shares of the financial services provider's stock valued at $1,708,000 after buying an additional 41,811 shares during the period. F m Investments LLC increased its position in shares of WesBanco by 0.5% during the second quarter. F m Investments LLC now owns 142,851 shares of the financial services provider's stock valued at $4,518,000 after acquiring an additional 702 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in shares of WesBanco in the 2nd quarter valued at approximately $1,013,000. Russell Investments Group Ltd. lifted its holdings in shares of WesBanco by 60.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 235,678 shares of the financial services provider's stock worth $7,455,000 after acquiring an additional 88,839 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its position in shares of WesBanco by 32.7% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 9,219 shares of the financial services provider's stock worth $292,000 after purchasing an additional 2,272 shares during the period. Hedge funds and other institutional investors own 61.41% of the company's stock.

WesBanco Trading Up 1.4%

NASDAQ:WSBC opened at $32.73 on Tuesday. The company has a market capitalization of $3.14 billion, a PE ratio of 16.70 and a beta of 0.89. WesBanco, Inc. has a 52-week low of $26.42 and a 52-week high of $37.18. The stock's 50 day moving average price is $31.57 and its 200 day moving average price is $31.58. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.57.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.89 by $0.05. WesBanco had a return on equity of 8.55% and a net margin of 13.91%.The business had revenue of $261.58 million during the quarter, compared to analysts' expectations of $263.38 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, research analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.6%. This is a positive change from WesBanco's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, December 5th. WesBanco's dividend payout ratio is currently 77.55%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WSBC. Weiss Ratings reiterated a "hold (c+)" rating on shares of WesBanco in a report on Monday, November 24th. Royal Bank Of Canada boosted their price target on shares of WesBanco from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Friday, October 10th. DA Davidson cut shares of WesBanco from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 20th. Finally, Wall Street Zen cut shares of WesBanco from a "buy" rating to a "hold" rating in a report on Friday, September 26th. One equities research 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 stock. According to data from MarketBeat.com, WesBanco currently has an average rating of "Moderate Buy" and a consensus target price of $39.17.

Get Our Latest Stock Analysis on WesBanco

Insider Buying and Selling at WesBanco

In related news, Director Todd Clossin purchased 8,000 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was bought at an average price of $25.00 per share, with a total value of $200,000.00. Following the completion of the transaction, the director owned 8,000 shares of the company's stock, valued at approximately $200,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO K Weiss Daniel purchased 4,000 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was bought at an average cost of $25.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the chief financial officer owned 4,000 shares of the company's stock, valued at approximately $100,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 52,921 shares of company stock worth $1,339,995. 2.80% of the stock is currently owned by insiders.

WesBanco 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.

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