1,889 Shares in WesBanco, Inc. (NASDAQ:WSBC) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,889 shares of the financial services provider’s stock, valued at approximately $56,000.

A number of other hedge funds have also recently modified their holdings of the business. Inspire Investing LLC lifted its position in WesBanco by 4.6% during the 2nd quarter. Inspire Investing LLC now owns 12,630 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 560 shares during the period. Raymond James Trust N.A. increased its holdings in shares of WesBanco by 3.9% during the second quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 647 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of WesBanco by 3.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,590 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 668 shares during the last quarter. Cerity Partners LLC grew its position in WesBanco by 3.0% during the 3rd quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 867 shares during the last quarter. Finally, Quarry LP increased its stake in WesBanco by 215.3% during the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 913 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

Insider Buying and Selling

In other news, EVP Michael L. Perkins sold 1,125 shares of WesBanco stock in a transaction on Friday, November 8th. The stock was sold at an average price of $34.87, for a total value of $39,228.75. Following the transaction, the executive vice president now directly owns 46,817 shares in the company, valued at approximately $1,632,508.79. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.44% of the stock is owned by insiders.

Analysts Set New Price Targets

WSBC has been the topic of a number of research analyst reports. Stephens upped their price target on WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Raymond James raised WesBanco from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $35.00 to $44.00 in a report on Friday, December 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, WesBanco has a consensus rating of “Moderate Buy” and an average target price of $37.83.

WesBanco Stock Down 0.2 %

NASDAQ:WSBC opened at $35.18 on Friday. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 16.83 and a beta of 0.84. WesBanco, Inc. has a twelve month low of $25.56 and a twelve month high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $33.45 and a 200-day simple moving average of $30.92.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $243.34 million during the quarter, compared to analyst estimates of $152.40 million. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. During the same quarter last year, the business posted $0.59 EPS. Analysts anticipate that WesBanco, Inc. will post 2.14 EPS for the current year.

WesBanco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a $0.37 dividend. This is a positive change from WesBanco’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.21%. WesBanco’s payout ratio is presently 70.81%.

About WesBanco

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.