Oppenheimer Asset Management Inc. Decreases Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Oppenheimer Asset Management Inc. reduced its position in WesBanco, Inc. (NASDAQ:WSBC) by 0.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 45,446 shares of the financial services provider’s stock after selling 333 shares during the period. Oppenheimer Asset Management Inc.’s holdings in WesBanco were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Quarry LP boosted its position in WesBanco by 215.3% in the second quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 913 shares during the last quarter. Signaturefd LLC lifted its stake 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 worth $39,000 after purchasing an additional 944 shares during the period. Innealta Capital LLC purchased a new position in shares of WesBanco in the second quarter worth approximately $53,000. CWM LLC grew its position in WesBanco by 175.2% during the third quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,319 shares during the period. Finally, nVerses Capital LLC purchased a new stake in WesBanco during the third quarter valued at approximately $80,000. Institutional investors own 61.41% of the company’s stock.

Wall Street Analysts Forecast Growth

WSBC has been the subject of a number of recent research reports. DA Davidson boosted their price objective on shares of WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, July 29th. 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. Hovde Group raised their price objective on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. 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 note on Thursday, August 1st. Finally, Stephens raised their target price on shares of WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, WesBanco presently has an average rating of “Moderate Buy” and an average price target of $36.17.

WesBanco Stock Down 0.4 %

NASDAQ WSBC opened at $35.64 on Monday. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $36.87. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market cap of $2.38 billion, a PE ratio of 17.05 and a beta of 0.81. The stock’s 50 day moving average is $31.22 and its 200 day moving average is $29.95.

WesBanco (NASDAQ:WSBC) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. During the same quarter in the previous year, the firm earned $0.59 earnings per share. Research analysts predict that WesBanco, Inc. will post 2.14 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced 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 4.04%. The ex-dividend date was Friday, September 6th. WesBanco’s dividend payout ratio (DPR) is presently 68.90%.

Insider Buying and Selling

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $34.87, for a total transaction of $39,228.75. Following the sale, the executive vice president now directly owns 46,817 shares of the company’s stock, valued at $1,632,508.79. The trade was a 2.35 % 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 company 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.