Victory Capital Management Inc. Sells 11,676 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Victory Capital Management Inc. lowered its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 6.7% in the third quarter, Holdings Channel reports. The firm owned 162,681 shares of the financial services provider’s stock after selling 11,676 shares during the quarter. Victory Capital Management Inc.’s holdings in WesBanco were worth $4,845,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Quarry LP lifted its stake in WesBanco by 215.3% in the second quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 913 shares during the last quarter. Signaturefd LLC lifted its stake 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 WesBanco in the second quarter valued at $53,000. CWM LLC lifted its stake in WesBanco by 175.2% in the third quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,319 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in WesBanco in the third quarter valued at $80,000. Institutional investors own 61.41% of the company’s stock.

Analyst Ratings Changes

WSBC has been the subject of a number of research reports. 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 note on Monday, October 28th. 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 note on Monday, July 29th. 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 note on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, WesBanco has a consensus rating of “Moderate Buy” and a consensus target price of $36.17.

WesBanco Price Performance

WSBC stock opened at $36.45 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $36.87. The firm has a market cap of $2.44 billion, a P/E ratio of 17.44 and a beta of 0.81. The company’s 50-day moving average price is $31.75 and its two-hundred day moving average price is $30.18.

WesBanco (NASDAQ:WSBC) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. The firm had revenue of $243.34 million for the quarter, compared to analyst estimates of $152.40 million. During the same period last year, the firm earned $0.59 EPS. On average, analysts anticipate that WesBanco, Inc. will post 2.14 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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. This represents a $1.48 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, December 6th. WesBanco’s dividend payout ratio (DPR) is currently 68.90%.

Insider Buying and Selling at WesBanco

In related news, EVP Michael L. Perkins sold 1,125 shares of WesBanco stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $34.87, for a total transaction of $39,228.75. Following the sale, the executive vice president now directly 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 document filed with the SEC, which is available through this hyperlink. Insiders own 3.44% of the company’s stock.

WesBanco Company Profile

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.