Canton Hathaway LLC acquired a new stake in WesBanco, Inc. (NASDAQ:WSBC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,762 shares of the financial services provider’s stock, valued at approximately $708,000.
Other large investors have also added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its position in shares of WesBanco by 5.8% in the second quarter. Parametric Portfolio Associates LLC now owns 135,258 shares of the financial services provider’s stock valued at $4,819,000 after purchasing an additional 7,355 shares during the last quarter. Morgan Stanley grew its position in shares of WesBanco by 171.1% in the second quarter. Morgan Stanley now owns 204,113 shares of the financial services provider’s stock valued at $7,272,000 after purchasing an additional 128,822 shares during the last quarter. Invesco Ltd. grew its position in shares of WesBanco by 7.3% in the second quarter. Invesco Ltd. now owns 574,463 shares of the financial services provider’s stock valued at $20,468,000 after purchasing an additional 39,014 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in shares of WesBanco by 98,927.8% in the second quarter. Metropolitan Life Insurance Co NY now owns 17,825 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 17,807 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of WesBanco in the second quarter valued at approximately $1,124,000. Hedge funds and other institutional investors own 62.19% of the company’s stock.
WSBC has been the topic of several research reports. Royal Bank of Canada upped their target price on WesBanco from $36.00 to $38.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 29th. Zacks Investment Research downgraded WesBanco from a “buy” rating to a “hold” rating in a research report on Tuesday, October 5th. Finally, Boenning Scattergood reissued a “neutral” rating on shares of WesBanco in a research report on Wednesday, September 29th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.90.
WesBanco (NASDAQ:WSBC) last issued its earnings results on Tuesday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.07). The business had revenue of $148.03 million during the quarter, compared to analyst estimates of $146.23 million. WesBanco had a net margin of 37.95% and a return on equity of 9.23%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. Sell-side analysts predict that WesBanco, Inc. will post 3.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 3rd. Shareholders of record on Friday, December 10th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Thursday, December 9th. WesBanco’s dividend payout ratio is presently 38.26%.
WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.
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