Cubist Systematic Strategies LLC Lowers Stake in WesBanco, Inc. (NASDAQ:WSBC)

Cubist Systematic Strategies LLC lessened its holdings in WesBanco, Inc. (NASDAQ:WSBC) by 61.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,465 shares of the financial services provider’s stock after selling 16,824 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in WesBanco were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WSBC. PNC Financial Services Group Inc. lifted its position in WesBanco by 34.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,292 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 1,617 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in shares of WesBanco by 17.5% in the first quarter. Moody National Bank Trust Division now owns 17,165 shares of the financial services provider’s stock worth $512,000 after buying an additional 2,552 shares during the last quarter. Bridge City Capital LLC grew its position 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 period. Hennion & Walsh Asset Management Inc. purchased a new stake in WesBanco during the first quarter valued at approximately $222,000. Finally, Founders Financial Securities LLC raised its position in WesBanco by 6.1% in the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 436 shares during the period. Institutional investors own 61.41% of the company’s stock.

Insider Activity at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of WesBanco stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total value of $161,908.97. Following the sale, the executive vice president now owns 46,817 shares of the company’s stock, valued at $1,413,405.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods upped their price objective on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. DA Davidson raised their price objective on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stephens boosted their price objective on WesBanco from $27.00 to $34.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 6th. 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $35.00 price target on shares of WesBanco in a research report on Monday, September 9th. Four equities research analysts have rated the stock with 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 a consensus price target of $34.71.

WesBanco Trading Up 1.3 %

WSBC stock opened at $30.51 on Tuesday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 14.32 and a beta of 0.82. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.94. WesBanco, Inc. has a 1-year low of $23.00 and a 1-year high of $34.85. The business has a 50 day simple moving average of $30.44 and a two-hundred day simple moving average of $29.18.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $234.35 million for the quarter, compared to analysts’ expectations of $148.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.90%. During the same period in the previous year, the business posted $0.71 earnings per share. Research analysts anticipate that WesBanco, Inc. will post 2.06 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.72%. WesBanco’s dividend payout ratio is currently 67.61%.

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.