SummerHaven Investment Management LLC Purchases 495 Shares of WesBanco, Inc. $WSBC

SummerHaven Investment Management LLC raised its position in WesBanco, Inc. (NASDAQ:WSBC) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 30,888 shares of the financial services provider’s stock after buying an additional 495 shares during the quarter. SummerHaven Investment Management LLC’s holdings in WesBanco were worth $977,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WSBC. Vanguard Group Inc. increased its holdings in WesBanco by 40.3% in the 1st quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider’s stock valued at $291,427,000 after buying an additional 2,702,469 shares during the period. Dimensional Fund Advisors LP increased its holdings in WesBanco by 42.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider’s stock valued at $179,358,000 after buying an additional 1,730,801 shares during the period. Goldman Sachs Group Inc. increased its holdings in WesBanco by 179.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock valued at $47,779,000 after buying an additional 991,584 shares during the period. Nuveen LLC bought a new position in WesBanco in the 1st quarter valued at about $22,282,000. Finally, Wellington Management Group LLP increased its holdings in WesBanco by 35.2% in the 1st quarter. Wellington Management Group LLP now owns 2,456,454 shares of the financial services provider’s stock valued at $76,052,000 after buying an additional 640,003 shares during the period. 61.41% of the stock is owned by institutional investors.

WesBanco Trading Up 0.7%

WSBC opened at $32.33 on Monday. The company’s 50 day moving average is $31.60 and its 200-day moving average is $31.08. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The company has a market cap of $3.10 billion, a P/E ratio of 19.48 and a beta of 0.85.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. The business had revenue of $260.73 million for the quarter, compared to the consensus estimate of $261.14 million. During the same period last year, the company earned $0.49 EPS. Equities research analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, September 5th. This represents a $1.48 annualized dividend and a yield of 4.6%. WesBanco’s dividend payout ratio (DPR) is currently 89.16%.

Insider Buying and Selling at WesBanco

In other WesBanco news, Director Joseph R. Robinson bought 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the transaction, the director directly owned 8,000 shares in the company, valued at approximately $200,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory S. Proctor, Jr. bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the director owned 2,000 shares in the company, valued at $50,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 49,600 shares of company stock worth $1,240,000 over the last quarter. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.83.

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.