WesBanco, Inc. $WSBC Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 36.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 668,110 shares of the financial services provider’s stock after purchasing an additional 179,997 shares during the period. Sei Investments Co. owned about 0.69% of WesBanco worth $23,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of WSBC. Covestor Ltd boosted its holdings in shares of WesBanco by 12,500.0% in the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock valued at $25,000 after buying an additional 750 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in WesBanco during the fourth quarter worth about $29,000. GAMMA Investing LLC raised its stake in WesBanco by 41.1% during the fourth quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 324 shares during the period. First Horizon Corp lifted its holdings in WesBanco by 55.4% in the fourth quarter. First Horizon Corp now owns 1,302 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 464 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in WesBanco by 71.9% in the second quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 600 shares during the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kimberly L. Griffith sold 6,875 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $41.20, for a total value of $283,250.00. Following the completion of the transaction, the executive vice president directly owned 15,858 shares in the company, valued at $653,349.60. This trade represents a 30.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jan Pattishall-Krupinski sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $36.71, for a total transaction of $165,195.00. Following the transaction, the executive vice president owned 35,924 shares in the company, valued at $1,318,770.04. This represents a 11.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WSBC has been the subject of several recent research reports. DA Davidson set a $46.00 target price on WesBanco in a report on Thursday, July 23rd. Piper Sandler raised their price target on WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Zacks Research upgraded WesBanco from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Royal Bank Of Canada upped their price objective on WesBanco from $41.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $42.00 target price on shares of WesBanco in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.20.

WesBanco Trading Up 2.5%

Shares of WSBC stock opened at $42.01 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.94. WesBanco, Inc. has a 1 year low of $29.18 and a 1 year high of $42.05. The stock has a fifty day moving average of $37.51 and a two-hundred day moving average of $35.80. The firm has a market capitalization of $4.04 billion, a PE ratio of 12.21 and a beta of 0.67.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.07. The company 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%. As a group, research analysts expect that WesBanco, Inc. will post 3.57 EPS for the current year.

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

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, June 5th. WesBanco’s dividend payout ratio is currently 44.19%.

About WesBanco

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.