WesBanco (WSBC) Holdings Trimmed by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC reduced its stake in shares of WesBanco (NASDAQ:WSBC) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,911 shares of the financial services provider’s stock after selling 8,554 shares during the period. TIAA CREF Investment Management LLC’s holdings in WesBanco were worth $4,509,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WSBC. Ameriprise Financial Inc. grew its holdings in WesBanco by 11.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 145,022 shares of the financial services provider’s stock worth $5,950,000 after acquiring an additional 15,120 shares in the last quarter. Legal & General Group Plc grew its holdings in WesBanco by 28.8% during the 3rd quarter. Legal & General Group Plc now owns 21,717 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 4,852 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in WesBanco by 26.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,148 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 2,751 shares in the last quarter. Wells Fargo & Company MN grew its holdings in WesBanco by 24.8% during the 3rd quarter. Wells Fargo & Company MN now owns 253,728 shares of the financial services provider’s stock worth $10,408,000 after acquiring an additional 50,406 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in WesBanco by 5.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 198,334 shares of the financial services provider’s stock worth $8,136,000 after acquiring an additional 10,359 shares in the last quarter. 58.10% of the stock is owned by institutional investors.

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NASDAQ WSBC opened at $42.84 on Friday. WesBanco has a one year low of $35.49 and a one year high of $44.78. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $2,002.46, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.48 and a beta of 0.88.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, April 17th. The financial services provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.07. WesBanco had a net margin of 23.81% and a return on equity of 8.31%. The business had revenue of $97.27 million during the quarter, compared to analyst estimates of $96.77 million. During the same period in the previous year, the business posted $0.59 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. equities analysts forecast that WesBanco will post 2.9 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 9th were issued a $0.29 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This is a positive change from WesBanco’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a dividend yield of 2.71%. WesBanco’s payout ratio is 47.35%.

Several research analysts have weighed in on WSBC shares. Zacks Investment Research raised shares of WesBanco from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Wednesday, December 27th. Boenning Scattergood reaffirmed a “hold” rating on shares of WesBanco in a report on Tuesday, January 2nd. Finally, BidaskClub lowered shares of WesBanco from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $43.00.

In other WesBanco news, Director Denise H. Knouse-Snyder purchased 1,575 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $41.44 per share, with a total value of $65,268.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $82,880. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.14% of the company’s stock.

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About WesBanco

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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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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