nVerses Capital LLC Buys New Position in WesBanco, Inc. (NASDAQ:WSBC)

nVerses Capital LLC bought a new stake in WesBanco, Inc. (NASDAQ:WSBC) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,700 shares of the financial services provider’s stock, valued at approximately $80,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSBC. Creative Planning grew its stake in WesBanco by 17.5% in the third quarter. Creative Planning now owns 37,349 shares of the financial services provider’s stock valued at $1,112,000 after purchasing an additional 5,552 shares in the last quarter. Inspire Investing LLC grew its stake in WesBanco by 9.3% in the third quarter. Inspire Investing LLC now owns 13,801 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 1,171 shares in the last quarter. CWM LLC grew 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 purchasing an additional 1,319 shares in the last quarter. Handelsbanken Fonder AB grew its stake in WesBanco by 13.3% in the third quarter. Handelsbanken Fonder AB now owns 11,100 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 1,300 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in WesBanco by 259.2% in the third quarter. SG Americas Securities LLC now owns 22,448 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 16,198 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. DA Davidson raised their price target on WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. Hovde Group lifted their target price on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Stephens lifted their target price on WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods lifted their target price on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $34.71.

WesBanco Stock Performance

WSBC opened at $31.46 on Monday. The business has a fifty day simple moving average of $30.55 and a 200 day simple moving average of $29.24. The company has a market capitalization of $2.10 billion, a PE ratio of 14.77 and a beta of 0.82. WesBanco, Inc. has a 1 year low of $23.00 and a 1 year high of $34.85. 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 (NASDAQ:WSBC) last released its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share (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 net margin of 15.22% and a return on equity of 5.90%. During the same quarter last year, the firm earned $0.71 earnings per share. Research analysts expect that WesBanco, Inc. will post 2.06 EPS for the current year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $0.36 dividend. The ex-dividend date was Friday, September 6th. This represents a $1.44 annualized dividend and a yield of 4.58%. WesBanco’s dividend payout ratio is presently 67.61%.

Insider Buying and Selling at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of WesBanco stock in a transaction 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 completion of the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.