Prudential Financial Inc. lowered its holdings in WesBanco Inc (NASDAQ:WSBC) by 24.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,932 shares of the financial services provider’s stock after selling 52,343 shares during the period. Prudential Financial Inc.’s holdings in WesBanco were worth $7,130,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Legacy Financial Advisors Inc. bought a new position in WesBanco in the third quarter valued at $108,000. WealthTrust Fairport LLC bought a new position in WesBanco in the second quarter valued at $118,000. Stratos Wealth Partners LTD. bought a new position in WesBanco in the third quarter valued at $138,000. AlphaMark Advisors LLC bought a new position in WesBanco in the third quarter valued at $184,000. Finally, Horan Capital Advisors LLC. bought a new position in WesBanco in the second quarter valued at $186,000. 56.97% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on WSBC shares. BidaskClub raised shares of WesBanco from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Boenning Scattergood reaffirmed a “hold” rating on shares of WesBanco in a research report on Friday, October 26th. ValuEngine downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Zacks Investment Research downgraded shares of WesBanco from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research report on Saturday, November 17th. Finally, B. Riley set a $45.00 target price on shares of WesBanco and gave the company a “hold” rating in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $47.25.
Shares of WSBC stock opened at $40.44 on Friday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.30 and a beta of 1.00. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.69. WesBanco Inc has a one year low of $37.29 and a one year high of $51.12.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.14). The firm had revenue of $116.16 million during the quarter, compared to analyst estimates of $109.07 million. WesBanco had a net margin of 24.22% and a return on equity of 9.04%. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, equities research analysts predict that WesBanco Inc will post 3.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, December 13th. WesBanco’s dividend payout ratio is currently 47.35%.
In other WesBanco news, EVP Brent E. Richmond sold 4,006 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $45.60, for a total value of $182,673.60. Following the completion of the sale, the executive vice president now owns 19,635 shares in the company, valued at $895,356. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.14% of the company’s stock.
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WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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