Renaissance Technologies LLC Acquires 15,000 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Renaissance Technologies LLC increased its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 42.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,525 shares of the financial services provider’s stock after acquiring an additional 15,000 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of WesBanco worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Smithfield Trust Co increased its stake in shares of WesBanco by 0.9% during the first quarter. Smithfield Trust Co now owns 49,575 shares of the financial services provider’s stock valued at $1,478,000 after purchasing an additional 423 shares in the last quarter. Founders Financial Securities LLC grew its stake in shares of WesBanco by 6.1% in the 1st quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock worth $227,000 after buying an additional 436 shares during the last quarter. Raymond James Trust N.A. increased its position in WesBanco by 3.9% during the 2nd quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock valued at $485,000 after buying an additional 647 shares in the last quarter. Bridge City Capital LLC raised its stake in WesBanco by 0.8% during the first quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock valued at $2,522,000 after buying an additional 663 shares during the last quarter. Finally, Signaturefd LLC raised its stake in WesBanco by 214.5% during the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after buying an additional 944 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the 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 transaction, the executive vice president now directly owns 46,817 shares in the company, valued at approximately $1,413,405.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.44% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WSBC. Royal Bank of Canada restated a “sector perform” rating and set a $35.00 price target on shares of WesBanco in a report on Monday, September 9th. Hovde Group lifted their target price on shares of WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Stephens increased their price target on shares of WesBanco from $27.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods boosted their price objective on shares of WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Finally, DA Davidson increased their target price on WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $34.71.

WesBanco Trading Up 2.0 %

NASDAQ:WSBC opened at $29.36 on Friday. The company has a market cap of $1.74 billion, a PE ratio of 12.16 and a beta of 0.82. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $30.70 and a two-hundred day simple moving average of $29.13. WesBanco, Inc. has a 12 month low of $23.00 and a 12 month high of $34.85.

WesBanco (NASDAQ:WSBC) last issued 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). The firm had revenue of $234.35 million during 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 period in the previous year, the firm earned $0.71 EPS. Research analysts forecast that WesBanco, Inc. will post 2.07 earnings per share for the current year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Friday, September 6th. WesBanco’s payout ratio is 60.00%.

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.