Russell Investments Group Ltd. Boosts Stock Position in WesBanco, Inc. $WSBC

Russell Investments Group Ltd. raised its position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 60.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 235,678 shares of the financial services provider's stock after buying an additional 88,839 shares during the quarter. Russell Investments Group Ltd. owned about 0.25% of WesBanco worth $7,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of WesBanco by 58.8% during the first quarter. Swiss National Bank now owns 185,977 shares of the financial services provider's stock valued at $5,758,000 after acquiring an additional 68,832 shares in the last quarter. LPL Financial LLC increased its stake in WesBanco by 44.9% during the 1st quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider's stock valued at $1,982,000 after purchasing an additional 19,836 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of WesBanco by 40.3% in the first quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider's stock worth $291,427,000 after buying an additional 2,702,469 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of WesBanco by 45.3% during the first quarter. Deutsche Bank AG now owns 70,655 shares of the financial services provider's stock worth $2,187,000 after buying an additional 22,044 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of WesBanco by 132.5% during the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock valued at $28,000 after buying an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

WesBanco Stock Performance

Shares of NASDAQ WSBC opened at $33.56 on Thursday. The company has a market capitalization of $3.22 billion, a PE ratio of 17.12 and a beta of 0.81. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The company's fifty day moving average price is $31.61 and its 200 day moving average price is $31.59. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.18.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.05. WesBanco had a net margin of 13.91% and a return on equity of 8.28%. The business had revenue of $261.58 million during the quarter, compared to the consensus estimate of $263.38 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. On average, research analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.5%. This is a boost from WesBanco's previous quarterly dividend of $0.37. The ex-dividend date is Friday, December 5th. WesBanco's dividend payout ratio (DPR) is presently 75.51%.

Insider Buying and Selling at WesBanco

In other WesBanco news, CFO K Weiss Daniel bought 4,000 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the transaction, the chief financial officer directly owned 4,000 shares of the company's stock, valued at approximately $100,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph R. Robinson purchased 8,000 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the purchase, the director directly owned 8,000 shares in the company, valued at $200,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 52,921 shares of company stock worth $1,339,995. 2.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WSBC. DA Davidson cut WesBanco from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 20th. Royal Bank Of Canada lifted their target price on WesBanco from $34.00 to $36.00 and gave the stock a "sector perform" rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of WesBanco in a report on Monday. 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 issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $39.17.

Read Our Latest Stock Analysis on WesBanco

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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