Atria Investments Inc Acquires 4,269 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Atria Investments Inc boosted its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 22.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,103 shares of the financial services provider’s stock after acquiring an additional 4,269 shares during the period. Atria Investments Inc’s holdings in WesBanco were worth $688,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. New York State Common Retirement Fund raised its stake in WesBanco by 2.5% during the 3rd quarter. New York State Common Retirement Fund now owns 500,890 shares of the financial services provider’s stock valued at $14,917,000 after buying an additional 11,987 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of WesBanco by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock valued at $13,685,000 after acquiring an additional 21,297 shares during the period. F M Investments LLC bought a new position in WesBanco in the 3rd quarter worth $7,726,000. Envestnet Asset Management Inc. boosted its holdings in WesBanco by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 227,429 shares of the financial services provider’s stock worth $6,348,000 after buying an additional 6,043 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of WesBanco by 466.7% during the 2nd quarter. Millennium Management LLC now owns 152,858 shares of the financial services provider’s stock valued at $4,266,000 after purchasing an additional 125,883 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

Insider Buying and Selling

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

WesBanco Trading Down 0.7 %

Shares of NASDAQ:WSBC opened at $35.26 on Wednesday. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $36.87. The business’s fifty day simple moving average is $31.42 and its 200-day simple moving average is $30.05. The company has a market capitalization of $2.36 billion, a PE ratio of 16.87 and a beta of 0.81. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. WesBanco had a return on equity of 5.75% and a net margin of 14.79%. The firm had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. During the same period in the previous year, the business earned $0.59 EPS. As a group, equities research analysts predict that WesBanco, Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on WSBC shares. Keefe, Bruyette & Woods increased their price target on shares of WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a research report on Monday, September 9th. Stephens raised their target price on shares of WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Hovde Group raised their target price on shares of WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, DA Davidson raised their target price on shares of WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.17.

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.