American International Group Inc. trimmed its position in WesBanco, Inc. (NASDAQ:WSBC – Get Rating) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,107 shares of the financial services provider’s stock after selling 612 shares during the period. American International Group Inc.’s holdings in WesBanco were worth $1,002,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in WesBanco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,973,790 shares of the financial services provider’s stock valued at $205,259,000 after buying an additional 75,273 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in WesBanco by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,606,697 shares of the financial services provider’s stock valued at $170,356,000 after purchasing an additional 106,068 shares during the last quarter. Macquarie Group Ltd. boosted its stake in WesBanco by 1.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,776,778 shares of the financial services provider’s stock valued at $59,327,000 after purchasing an additional 25,089 shares during the last quarter. Invesco Ltd. boosted its stake in WesBanco by 4.3% during the 1st quarter. Invesco Ltd. now owns 642,911 shares of the financial services provider’s stock valued at $22,090,000 after purchasing an additional 26,551 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its stake in WesBanco by 3.0% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 615,998 shares of the financial services provider’s stock valued at $20,557,000 after purchasing an additional 17,693 shares during the last quarter. 58.78% of the stock is owned by institutional investors.
WesBanco Trading Down 1.3 %
Shares of WSBC stock opened at $27.92 on Friday. The company’s fifty day simple moving average is $26.19 and its two-hundred day simple moving average is $32.89. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88. WesBanco, Inc. has a 1 year low of $19.84 and a 1 year high of $41.37. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 9.21 and a beta of 0.90.
WesBanco Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $1.40 annualized dividend and a dividend yield of 5.01%. WesBanco’s payout ratio is currently 46.20%.
Insider Transactions at WesBanco
In other news, Director Gregory S. Proctor, Jr. bought 3,500 shares of WesBanco stock in a transaction that occurred on Thursday, June 8th. The shares were acquired at an average price of $28.08 per share, with a total value of $98,280.00. Following the completion of the purchase, the director now directly owns 41,913 shares in the company, valued at $1,176,917.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Jeffrey H. Jackson bought 5,000 shares of WesBanco stock in a transaction that occurred on Tuesday, May 9th. The shares were acquired at an average price of $22.34 per share, with a total value of $111,700.00. Following the completion of the purchase, the chief operating officer now directly owns 17,627 shares in the company, valued at $393,787.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory S. Proctor, Jr. purchased 3,500 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were acquired at an average price of $28.08 per share, with a total value of $98,280.00. Following the completion of the transaction, the director now owns 41,913 shares of the company’s stock, valued at $1,176,917.04. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 25,500 shares of company stock valued at $603,155. 3.07% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have issued reports on WSBC shares. Royal Bank of Canada cut their price target on WesBanco from $36.00 to $32.00 in a research note on Wednesday, April 26th. StockNews.com assumed coverage on WesBanco in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Piper Sandler cut their target price on WesBanco from $34.00 to $29.00 in a research note on Monday, May 1st. Keefe, Bruyette & Woods dropped their price objective on WesBanco from $40.00 to $35.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. Finally, Stephens began coverage on WesBanco in a research note on Monday, April 3rd. They issued an “equal weight” rating and a $28.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.57.
WesBanco Profile
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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