Signaturefd LLC Has $39,000 Position in WesBanco, Inc. (NASDAQ:WSBC)

Signaturefd LLC raised its position in WesBanco, Inc. (NASDAQ:WSBC) by 214.5% in the second quarter, HoldingsChannel.com reports. The fund owned 1,384 shares of the financial services provider’s stock after purchasing an additional 944 shares during the quarter. Signaturefd LLC’s holdings in WesBanco were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in WSBC. International Assets Investment Management LLC lifted its stake in WesBanco by 3,037.0% in the fourth quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock valued at $3,269,000 after acquiring an additional 99,280 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in WesBanco in the fourth quarter valued at $267,000. Charles Schwab Investment Management Inc. lifted its stake in WesBanco by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock valued at $25,450,000 after acquiring an additional 48,304 shares during the last quarter. Principal Securities Inc. acquired a new stake in WesBanco in the fourth quarter valued at $43,000. Finally, Jump Financial LLC acquired a new stake in WesBanco in the fourth quarter valued at $283,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WSBC. Hovde Group increased their price objective 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. DA Davidson increased their price objective on shares of WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of WesBanco from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Stephens increased their price objective on shares of WesBanco from $27.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $34.71.

WesBanco Price Performance

NASDAQ:WSBC opened at $31.35 on Friday. WesBanco, Inc. has a 52 week low of $23.00 and a 52 week high of $34.85. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 13.06 and a beta of 0.83. The firm’s 50-day simple moving average is $30.73 and its 200 day simple moving average is $28.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.94 and a current ratio of 0.94.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). WesBanco had a return on equity of 5.90% and a net margin of 15.22%. The business had revenue of $234.35 million for the quarter, compared to the consensus estimate of $148.40 million. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, sell-side analysts predict that WesBanco, Inc. will post 2.1 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, September 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.59%. WesBanco’s payout ratio is 60.00%.

Insiders Place Their Bets

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total transaction 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.