Creative Planning Grows Stock Holdings in WesBanco, Inc. (NASDAQ:WSBC)

Creative Planning lifted its stake in shares of WesBanco, Inc. (NASDAQ:WSBC) by 17.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 37,349 shares of the financial services provider’s stock after purchasing an additional 5,552 shares during the quarter. Creative Planning’s holdings in WesBanco were worth $1,112,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its stake in WesBanco by 105.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 17,345 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of WesBanco during the 1st quarter valued at about $3,555,000. Bank of New York Mellon Corp grew its holdings in shares of WesBanco by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock valued at $13,685,000 after purchasing an additional 21,297 shares during the period. Millennium Management LLC increased its position in WesBanco by 466.7% during the second quarter. Millennium Management LLC now owns 152,858 shares of the financial services provider’s stock worth $4,266,000 after purchasing an additional 125,883 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in WesBanco during the first quarter worth about $212,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Michael L. Perkins sold 5,363 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $35.00 price target on shares of WesBanco in a research note on Monday, September 9th. Hovde Group increased their price objective on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Stephens lifted their target price on WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday. Keefe, Bruyette & Woods upped their price target 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, DA Davidson raised their price objective on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.17.

WesBanco Stock Down 0.2 %

Shares of NASDAQ WSBC opened at $31.45 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $30.64 and its two-hundred day moving average is $29.38. WesBanco, Inc. has a 52-week low of $24.06 and a 52-week high of $34.85. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 15.05 and a beta of 0.82.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. WesBanco had a return on equity of 5.91% and a net margin of 14.79%. The business had revenue of $243.34 million during the quarter, compared to analysts’ expectations of $152.40 million. During the same period in the previous year, the firm posted $0.59 earnings per share. Research analysts predict that WesBanco, Inc. will post 2.06 EPS for the current year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $0.36 per share. The ex-dividend date was Friday, September 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.58%. WesBanco’s dividend payout ratio is presently 68.90%.

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.