BlackRock Inc. Has $106.77 Million Stake in WesBanco, Inc. (WSBC)

BlackRock Inc. raised its position in WesBanco, Inc. (NASDAQ:WSBC) by 1.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,700,401 shares of the financial services provider’s stock after acquiring an additional 46,799 shares during the quarter. BlackRock Inc. owned approximately 6.13% of WesBanco worth $106,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ameriprise Financial Inc. increased its position in WesBanco by 132.9% in the second quarter. Ameriprise Financial Inc. now owns 129,902 shares of the financial services provider’s stock worth $5,137,000 after buying an additional 74,115 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of WesBanco by 3.4% during the second quarter. TIAA CREF Investment Management LLC now owns 122,316 shares of the financial services provider’s stock worth $4,836,000 after purchasing an additional 4,068 shares in the last quarter. Teachers Advisors LLC grew its position in shares of WesBanco by 386.8% during the second quarter. Teachers Advisors LLC now owns 345,534 shares of the financial services provider’s stock worth $13,662,000 after purchasing an additional 274,555 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of WesBanco by 22.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,695 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 1,045 shares in the last quarter. Finally, AMG Funds LLC grew its position in shares of WesBanco by 0.5% during the second quarter. AMG Funds LLC now owns 21,270 shares of the financial services provider’s stock worth $841,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 57.74% of the company’s stock.

Several research firms have weighed in on WSBC. Zacks Investment Research lowered WesBanco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. FBR & Co decreased their price target on WesBanco from $44.00 to $40.00 and set a “mkt perform” rating for the company in a research note on Friday, July 21st. BidaskClub raised WesBanco from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Boenning Scattergood reaffirmed a “hold” rating on shares of WesBanco in a research report on Friday, October 20th. Finally, DA Davidson set a $47.00 target price on WesBanco and gave the company a “buy” rating in a research report on Friday, October 20th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $42.00.

In related news, EVP Brent E. Richmond sold 1,440 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $36.83, for a total value of $53,035.20. Following the completion of the sale, the executive vice president now owns 22,701 shares in the company, valued at approximately $836,077.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.05% of the stock is currently owned by corporate insiders.

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Shares of WesBanco, Inc. (WSBC) opened at 41.34 on Friday. The stock has a market cap of $1.82 billion, a P/E ratio of 18.89 and a beta of 0.96. The firm’s 50-day moving average price is $40.07 and its 200 day moving average price is $38.97. WesBanco, Inc. has a 1-year low of $32.10 and a 1-year high of $44.19.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.03). WesBanco had a net margin of 24.73% and a return on equity of 7.71%. The company had revenue of $95.15 million during the quarter, compared to the consensus estimate of $98.37 million. During the same quarter last year, the business earned $0.60 earnings per share. On average, equities analysts expect that WesBanco, Inc. will post $2.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were given a $0.26 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.52%. WesBanco’s dividend payout ratio (DPR) is presently 44.44%.

WesBanco Profile

WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.

Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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