First Trust Advisors LP lifted its holdings in WesBanco Inc (NASDAQ:WSBC) by 24.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 75,406 shares of the financial services provider’s stock after acquiring an additional 14,723 shares during the quarter. First Trust Advisors LP’s holdings in WesBanco were worth $3,065,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in WSBC. Macquarie Group Ltd. grew its position in shares of WesBanco by 11.1% in the 3rd quarter. Macquarie Group Ltd. now owns 1,525,400 shares of the financial services provider’s stock worth $62,572,000 after buying an additional 152,280 shares during the period. Earnest Partners LLC grew its position in shares of WesBanco by 8.8% in the 3rd quarter. Earnest Partners LLC now owns 1,641,852 shares of the financial services provider’s stock worth $67,349,000 after buying an additional 132,434 shares during the period. River Road Asset Management LLC grew its position in shares of WesBanco by 20.5% in the 4th quarter. River Road Asset Management LLC now owns 647,286 shares of the financial services provider’s stock worth $26,312,000 after buying an additional 110,089 shares during the period. Creative Planning grew its position in shares of WesBanco by 671.8% in the 4th quarter. Creative Planning now owns 62,616 shares of the financial services provider’s stock worth $2,545,000 after buying an additional 54,503 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of WesBanco by 24.8% in the 3rd quarter. Wells Fargo & Company MN now owns 253,728 shares of the financial services provider’s stock worth $10,408,000 after buying an additional 50,406 shares during the period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WesBanco Inc (NASDAQ:WSBC) opened at $43.68 on Thursday. WesBanco Inc has a 1 year low of $34.81 and a 1 year high of $44.60. The company has a market cap of $1,954.65, a PE ratio of 20.32, a P/E/G ratio of 1.52 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.89 and a current ratio of 0.89.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. WesBanco had a net margin of 22.43% and a return on equity of 7.81%. The company had revenue of $96.12 million for the quarter, compared to the consensus estimate of $98.48 million. During the same period in the prior year, the firm posted $0.59 EPS. equities analysts predict that WesBanco Inc will post 2.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.66%. This is an increase from WesBanco’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, March 8th. WesBanco’s dividend payout ratio is 53.95%.
A number of analysts have recently weighed in on the stock. BidaskClub raised shares of WesBanco from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research raised shares of WesBanco from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Saturday, January 6th. Boenning Scattergood reissued a “hold” rating on shares of WesBanco in a research report on Wednesday, January 24th. Finally, DA Davidson set a $48.00 price objective on shares of WesBanco and gave the company a “buy” rating in a research report on Thursday, December 21st. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. WesBanco has an average rating of “Hold” and an average target price of $43.00.
In other WesBanco news, Director F Eric Nelson, Jr. sold 12,500 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $42.06, for a total transaction of $525,750.00. Following the transaction, the director now owns 29,717 shares in the company, valued at approximately $1,249,897.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denise H. Knouse-Snyder bought 1,575 shares of the stock in a transaction on Monday, January 29th. The shares were bought at an average price of $41.44 per share, for a total transaction of $65,268.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $82,880. The disclosure for this purchase can be found here. Corporate insiders own 4.05% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “First Trust Advisors LP Acquires 14,723 Shares of WesBanco Inc (WSBC)” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2018/03/15/first-trust-advisors-lp-acquires-14723-shares-of-wesbanco-inc-wsbc.html.
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.
Want to see what other hedge funds are holding WSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WesBanco Inc (NASDAQ:WSBC).
Receive News & Ratings for WesBanco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WesBanco and related companies with MarketBeat.com's FREE daily email newsletter.