WesBanco, Inc. (WSBC) Stake Raised by Third Avenue Management LLC
Third Avenue Management LLC raised its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 96.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,300 shares of the financial services provider’s stock after buying an additional 54,600 shares during the quarter. Third Avenue Management LLC owned about 0.25% of WesBanco worth $4,566,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Eaton Vance Management bought a new stake in shares of WesBanco in the 2nd quarter worth approximately $9,783,000. Alpha Windward LLC grew its position in shares of WesBanco by 2.6% in the 2nd quarter. Alpha Windward LLC now owns 11,940 shares of the financial services provider’s stock worth $472,000 after buying an additional 300 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of WesBanco in the 1st quarter worth approximately $2,952,000. HPM Partners LLC grew its position in shares of WesBanco by 1,540.0% in the 2nd quarter. HPM Partners LLC now owns 127,987 shares of the financial services provider’s stock worth $7,092,000 after buying an additional 120,183 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of WesBanco by 25.2% in the 1st quarter. AQR Capital Management LLC now owns 44,644 shares of the financial services provider’s stock worth $1,701,000 after buying an additional 8,995 shares during the last quarter. Hedge funds and other institutional investors own 57.61% of the company’s stock.
In related news, EVP Brent E. Richmond sold 1,440 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $36.83, for a total value of $53,035.20. Following the transaction, the executive vice president now owns 22,701 shares of the company’s stock, valued at $836,077.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.05% of the stock is owned by corporate insiders.
WesBanco, Inc. (WSBC) traded up 1.65% during midday trading on Tuesday, hitting $40.74. The company had a trading volume of 9,004 shares. The stock has a 50 day moving average price of $40.38 and a 200 day moving average price of $39.05. WesBanco, Inc. has a 52 week low of $32.10 and a 52 week high of $44.19. The company has a market capitalization of $1.79 billion, a P/E ratio of 18.61 and a beta of 0.96.
WesBanco (NASDAQ:WSBC) last announced 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 return on equity of 7.71% and a net margin of 24.73%. The firm had revenue of $95.15 million during the quarter, compared to the consensus estimate of $98.37 million. During the same period last year, the company earned $0.60 EPS. Equities analysts forecast that WesBanco, Inc. will post $2.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a $0.26 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.04 annualized dividend and a yield of 2.59%. WesBanco’s dividend payout ratio (DPR) is currently 44.44%.
Several equities research analysts recently weighed in on WSBC shares. Zacks Investment Research lowered WesBanco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub lowered WesBanco from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Boenning Scattergood restated a “hold” rating on shares of WesBanco in a research report on Friday, October 20th. FBR & Co set a $40.00 price target on WesBanco and gave the company a “hold” rating in a research report on Friday, October 20th. Finally, DA Davidson set a $47.00 price target 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 analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. WesBanco presently has an average rating of “Hold” and an average target price of $42.00.
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.
Receive News & Ratings for WesBanco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WesBanco Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.