WesBanco, Inc. $WSBC Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in WesBanco, Inc. (NASDAQ:WSBC) by 93.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,234 shares of the financial services provider’s stock after selling 185,553 shares during the period. ProShare Advisors LLC’s holdings in WesBanco were worth $495,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in shares of WesBanco during the second quarter worth approximately $8,701,000. Bank of America Corp DE acquired a new stake in WesBanco in the 2nd quarter valued at approximately $84,562,000. Deutsche Bank AG acquired a new stake in WesBanco in the 2nd quarter valued at approximately $3,914,000. Corient Private Wealth LP raised its stake in WesBanco by 26.1% during the 2nd quarter. Corient Private Wealth LP now owns 127,193 shares of the financial services provider’s stock valued at $4,968,000 after acquiring an additional 26,355 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in WesBanco during the 2nd quarter valued at $10,089,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Stock Up 2.2%

Shares of WSBC stock opened at $39.45 on Tuesday. WesBanco, Inc. has a 1 year low of $29.75 and a 1 year high of $43.02. The stock has a market cap of $3.79 billion, a PE ratio of 11.34 and a beta of 0.70. The business’s fifty day moving average is $38.65 and its 200-day moving average is $37.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.96 and a current ratio of 0.96.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $272.74 million for the quarter, compared to the consensus estimate of $274.88 million. WesBanco had a return on equity of 9.58% and a net margin of 23.70%. Equities analysts expect that WesBanco, Inc. will post 3.57 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were given a $0.38 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.52 annualized dividend and a yield of 3.9%. WesBanco’s payout ratio is 43.68%.

Analyst Upgrades and Downgrades

WSBC has been the subject of several research analyst reports. Piper Sandler reduced their price objective on shares of WesBanco from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Raymond James Financial cut shares of WesBanco from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 6th. Wall Street Zen downgraded shares of WesBanco from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. DA Davidson set a $46.00 price target on shares of WesBanco in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $44.00 price objective on shares of WesBanco in a report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.60.

Insider Activity

In other news, EVP Scott A. Love sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $40.12, for a total transaction of $120,360.00. Following the completion of the transaction, the executive vice president owned 25,229 shares in the company, valued at approximately $1,012,187.48. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Denise H. Knouse-Snyder sold 3,070 shares of WesBanco stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $40.89, for a total transaction of $125,532.30. Following the completion of the transaction, the director directly owned 15,035 shares in the company, valued at $614,781.15. This represents a 16.96% decrease in their position. The SEC filing for this sale provides additional information. 2.07% of the stock is currently owned by insiders.

WesBanco Profile