Cwm LLC Purchases 1,319 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Cwm LLC increased its position in WesBanco, Inc. (NASDAQ:WSBC) by 175.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,072 shares of the financial services provider’s stock after acquiring an additional 1,319 shares during the period. Cwm LLC’s holdings in WesBanco were worth $62,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in WesBanco by 34.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,292 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 1,617 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in WesBanco during the first quarter valued at about $222,000. Founders Financial Securities LLC grew its holdings in WesBanco by 6.1% during the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 436 shares during the period. BNP Paribas Financial Markets grew its holdings in WesBanco by 43.3% during the first quarter. BNP Paribas Financial Markets now owns 34,350 shares of the financial services provider’s stock valued at $1,024,000 after purchasing an additional 10,375 shares during the period. Finally, Avalon Advisory Group bought a new stake in WesBanco during the first quarter valued at about $247,000. Institutional investors own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $35.00 price target on shares of WesBanco in a report on Monday, September 9th. DA Davidson boosted their price objective on WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a research report 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 report on Tuesday, August 6th. Keefe, Bruyette & Woods boosted their price objective on WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Finally, Hovde Group boosted their price objective on WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $34.71.

Insiders Place Their Bets

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 of the company’s stock, valued at $1,413,405.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.44% of the stock is currently owned by insiders.

WesBanco Price Performance

NASDAQ:WSBC opened at $30.29 on Monday. 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 market capitalization of $1.80 billion, a P/E ratio of 12.62 and a beta of 0.82. WesBanco, Inc. has a 12 month low of $23.04 and a 12 month high of $34.85. The business’s 50-day moving average is $30.61 and its 200 day moving average is $29.31.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 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 business earned $0.59 earnings per share. On average, equities research analysts forecast that WesBanco, Inc. will post 2.06 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.44 annualized dividend and a yield of 4.75%. WesBanco’s payout ratio is currently 60.00%.

About WesBanco

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.