Jacobs Asset Management LLC Invests $2.17 Million in WesBanco, Inc. (NASDAQ:WSBC)

Jacobs Asset Management LLC acquired a new position in WesBanco, Inc. (NASDAQ:WSBC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 72,727 shares of the financial services provider’s stock, valued at approximately $2,166,000. WesBanco comprises 1.4% of Jacobs Asset Management LLC’s portfolio, making the stock its 22nd largest position. Jacobs Asset Management LLC owned about 0.11% of WesBanco at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Inspire Investing LLC boosted its holdings in shares of WesBanco by 4.6% during the 2nd quarter. Inspire Investing LLC now owns 12,630 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 560 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of WesBanco by 3.9% during the 2nd quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock valued at $485,000 after buying an additional 647 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of WesBanco by 3.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,590 shares of the financial services provider’s stock valued at $524,000 after buying an additional 668 shares in the last quarter. Cerity Partners LLC raised its position in shares of WesBanco by 3.0% during the 3rd quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider’s stock valued at $895,000 after buying an additional 867 shares in the last quarter. Finally, Quarry LP raised its position in WesBanco by 215.3% in the 2nd 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 period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Stock Down 0.2 %

WSBC opened at $35.28 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm has a market cap of $2.36 billion, a P/E ratio of 16.88 and a beta of 0.84. WesBanco, Inc. has a 52 week low of $25.56 and a 52 week high of $37.36. The business’s fifty day simple moving average is $32.21 and its 200 day simple moving average is $30.46.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data 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. WesBanco had a return on equity of 5.75% and a net margin of 14.79%. The company had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. During the same period last year, the business posted $0.59 EPS. As a group, equities research analysts anticipate that WesBanco, Inc. will post 2.14 EPS for the current fiscal year.

WesBanco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.48 dividend on an annualized basis and a yield of 4.20%. This is a positive change from WesBanco’s previous quarterly dividend of $0.36. WesBanco’s payout ratio is currently 68.90%.

Insider Activity at WesBanco

In related news, EVP Michael L. Perkins sold 1,125 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.44% of the company’s stock.

Analysts Set New Price Targets

WSBC has been the topic of a number of recent research reports. Stephens increased their price objective on shares of WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $35.00 price objective on shares of WesBanco in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.17.

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.