FJ Capital Management LLC Sells 307,160 Shares of WesBanco, Inc. $WSBC

FJ Capital Management LLC cut its position in WesBanco, Inc. (NASDAQ:WSBC) by 46.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 347,136 shares of the financial services provider’s stock after selling 307,160 shares during the quarter. WesBanco comprises about 1.3% of FJ Capital Management LLC’s portfolio, making the stock its 22nd biggest holding. FJ Capital Management LLC owned approximately 0.36% of WesBanco worth $11,539,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd boosted its stake in WesBanco by 12,500.0% in the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 750 shares during the period. Smartleaf Asset Management LLC boosted its stake in WesBanco by 255.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 574 shares during the period. Hilton Head Capital Partners LLC bought a new stake in WesBanco in the 4th quarter valued at $29,000. GAMMA Investing LLC boosted its stake in WesBanco by 41.1% in the 4th quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 324 shares during the period. Finally, First Horizon Corp boosted its stake in WesBanco by 55.4% in the 4th quarter. First Horizon Corp now owns 1,302 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 464 shares during the period. 61.41% of the stock is currently owned by institutional investors.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $36.77 on Friday. The stock has a market capitalization of $3.54 billion, a PE ratio of 11.86 and a beta of 0.68. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The business has a fifty day moving average price of $34.75 and a two-hundred day moving average price of $34.60. WesBanco, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $38.10.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $257.23 million during the quarter, compared to analysts’ expectations of $264.52 million. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. As a group, equities analysts predict that WesBanco, Inc. will post 3.59 earnings per share for the current fiscal year.

WesBanco declared that its board has approved a share repurchase program on Wednesday, May 20th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.52 annualized dividend and a yield of 4.1%. WesBanco’s payout ratio is currently 49.03%.

Insider Buying and Selling at WesBanco

In related news, Director Louis Michael Altman acquired 3,000 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was purchased at an average cost of $33.72 per share, with a total value of $101,160.00. Following the acquisition, the director directly owned 33,164 shares of the company’s stock, valued at approximately $1,118,290.08. The trade was a 9.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph R. Robinson acquired 1,000 shares of the company’s stock in a transaction on Monday, April 27th. The stock was bought at an average cost of $34.54 per share, with a total value of $34,540.00. Following the completion of the acquisition, the director directly owned 19,068 shares in the company, valued at approximately $658,608.72. This represents a 5.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 7,940 shares of company stock valued at $267,299 in the last three months. Corporate insiders own 2.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WSBC. Raymond James Financial restated a “strong-buy” rating and issued a $41.00 price target on shares of WesBanco in a research note on Thursday, March 12th. DA Davidson restated a “buy” rating and issued a $41.00 price target on shares of WesBanco in a research note on Wednesday, April 22nd. Zacks Research downgraded WesBanco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Finally, Piper Sandler reduced their price target on WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, WesBanco currently has an average rating of “Moderate Buy” and an average target price of $39.50.

WesBanco Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.