Creative Planning Buys 4,945 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Creative Planning raised its position in WesBanco, Inc. (NASDAQ:WSBC) by 18.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 31,797 shares of the financial services provider’s stock after buying an additional 4,945 shares during the period. Creative Planning owned about 0.05% of WesBanco worth $887,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in WesBanco by 214.5% in the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 944 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of WesBanco during the 2nd quarter worth approximately $53,000. International Assets Investment Management LLC bought a new stake in shares of WesBanco during the second quarter worth approximately $91,000. Comerica Bank lifted its holdings in WesBanco by 27.5% in the first quarter. Comerica Bank now owns 5,382 shares of the financial services provider’s stock valued at $160,000 after buying an additional 1,162 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in WesBanco by 34.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,292 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 1,617 shares during the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Stock Up 2.8 %

Shares of WSBC stock opened at $30.13 on Friday. WesBanco, Inc. has a 12-month low of $23.00 and a 12-month high of $34.85. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average of $30.43 and a 200-day moving average of $29.17. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 12.55 and a beta of 0.82.

WesBanco (NASDAQ:WSBC) last released its earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $234.35 million for the quarter, compared to the consensus estimate of $148.40 million. WesBanco had a return on equity of 5.90% and a net margin of 15.22%. During the same quarter last year, the company posted $0.71 EPS. As a group, equities research analysts predict that WesBanco, Inc. will post 2.06 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Friday, September 6th. WesBanco’s payout ratio is 60.00%.

Insiders Place Their Bets

In other news, EVP Michael L. Perkins sold 5,363 shares of WesBanco stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total value of $161,908.97. Following the sale, the executive vice president now directly owns 46,817 shares in the company, valued at $1,413,405.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on WSBC shares. Hovde Group upped their target price on shares of WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Stephens upped their price target on WesBanco from $27.00 to $34.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 6th. DA Davidson lifted their price objective on shares of WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $34.71.

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.