Dynamic Technology Lab Private Ltd Purchases New Stake in WesBanco, Inc. (NASDAQ:WSBC)

Dynamic Technology Lab Private Ltd acquired a new stake in WesBanco, Inc. (NASDAQ:WSBC) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 7,115 shares of the financial services provider’s stock, valued at approximately $212,000.

Other hedge funds have also recently modified their holdings of the company. Quarry LP grew its stake in shares of 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 holdings in 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 buying an additional 944 shares during the period. Innealta Capital LLC bought a new stake in shares of WesBanco in the 2nd quarter worth approximately $53,000. CWM LLC increased its stake in shares of 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 bought a new position in shares of WesBanco during the third quarter valued at approximately $80,000. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Trading Down 0.2 %

NASDAQ WSBC opened at $35.28 on Tuesday. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $37.36. 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’s fifty day moving average price is $32.21 and its 200-day moving average price is $30.46. The stock has a market cap of $2.36 billion, a P/E ratio of 16.88 and a beta of 0.81.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate 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 net margin of 14.79% and a return on equity of 5.75%. During the same period in the prior year, the firm posted $0.59 EPS. As a group, equities analysts forecast that WesBanco, Inc. will post 2.14 EPS for the current fiscal year.

WesBanco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.20%. This is an increase from WesBanco’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, December 6th. WesBanco’s dividend payout ratio (DPR) is presently 70.81%.

Insider Transactions at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of WesBanco stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the completion of the sale, the executive vice president now owns 46,817 shares of the company’s stock, valued at approximately $1,632,508.79. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on WSBC shares. Stephens boosted their price objective on shares of WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $35.00 price target on shares of WesBanco in a research report on Monday, September 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, WesBanco presently has a consensus rating of “Moderate Buy” and an average target price of $36.17.

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.