Oppenheimer Asset Management Inc. Acquires 13,414 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Oppenheimer Asset Management Inc. grew its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 41.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,779 shares of the financial services provider’s stock after buying an additional 13,414 shares during the period. Oppenheimer Asset Management Inc.’s holdings in WesBanco were worth $1,278,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of WesBanco by 214.5% in the 2nd 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. Principal Securities Inc. purchased a new stake in WesBanco during the fourth quarter valued at approximately $43,000. Innealta Capital LLC bought a new stake in shares of WesBanco in the 2nd quarter valued at approximately $53,000. International Assets Investment Management LLC purchased a new position in shares of WesBanco in the 2nd quarter worth approximately $91,000. Finally, TFO Wealth Partners LLC increased its position in shares of WesBanco by 26,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 3,144 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on WSBC shares. Keefe, Bruyette & Woods raised their price target on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Stephens lifted their price target on shares of WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Hovde Group increased their price objective 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. 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. Finally, DA Davidson increased their price target on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, WesBanco has a consensus rating of “Hold” and a consensus target price of $34.71.

WesBanco Stock Performance

Shares of NASDAQ:WSBC opened at $30.74 on Thursday. The firm’s 50 day simple moving average is $31.21 and its 200-day simple moving average is $29.07. 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, Inc. has a one year low of $23.00 and a one year high of $34.85. The firm has a market cap of $2.06 billion, a PE ratio of 12.81 and a beta of 0.83.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). WesBanco had a return on equity of 5.90% and a net margin of 15.22%. The firm had revenue of $234.35 million for the quarter, compared to analysts’ expectations of $148.40 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, equities analysts predict that WesBanco, Inc. will post 2.07 EPS for the current year.

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a $0.36 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.68%. WesBanco’s payout ratio is currently 60.00%.

Insider Buying and Selling

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the firm’s 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 transaction, the executive vice president now owns 46,817 shares of the company’s stock, valued at approximately $1,413,405.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.44% of the stock is owned by insiders.

WesBanco 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.