Wedge Capital Management L L P NC Acquires 8,959 Shares of WesBanco Inc (WSBC)

Wedge Capital Management L L P NC increased its holdings in shares of WesBanco Inc (NASDAQ:WSBC) by 127.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,991 shares of the financial services provider’s stock after purchasing an additional 8,959 shares during the period. Wedge Capital Management L L P NC’s holdings in WesBanco were worth $713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its position in WesBanco by 17.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 39,847 shares of the financial services provider’s stock worth $1,776,000 after acquiring an additional 5,885 shares during the last quarter. Legacy Financial Advisors Inc. acquired a new position in WesBanco in the 3rd quarter valued at about $108,000. Oppenheimer Asset Management Inc. boosted its holdings in WesBanco by 8.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 41,744 shares of the financial services provider’s stock valued at $1,861,000 after purchasing an additional 3,145 shares during the last quarter. First Trust Advisors LP boosted its holdings in WesBanco by 26.5% in the 3rd quarter. First Trust Advisors LP now owns 109,371 shares of the financial services provider’s stock valued at $4,876,000 after purchasing an additional 22,913 shares during the last quarter. Finally, Regent Investment Management LLC acquired a new position in WesBanco in the 3rd quarter valued at about $7,577,000. 59.62% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:WSBC opened at $41.80 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.32 and a beta of 1.00. WesBanco Inc has a 1-year low of $37.29 and a 1-year high of $51.12.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.14). The firm had revenue of $116.16 million during the quarter, compared to analyst estimates of $109.07 million. WesBanco had a net margin of 24.22% and a return on equity of 9.04%. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Equities analysts expect that WesBanco Inc will post 3.16 EPS for the current fiscal year.

In other news, CFO Robert H. Young sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $50.71, for a total value of $101,420.00. Following the transaction, the chief financial officer now directly owns 18,533 shares in the company, valued at approximately $939,808.43. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Anthony F. Pietranton sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $50.90, for a total transaction of $305,400.00. Following the completion of the transaction, the executive vice president now owns 12,957 shares in the company, valued at $659,511.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,256 shares of company stock worth $752,709. Company insiders own 4.14% of the company’s stock.

Several equities analysts have weighed in on WSBC shares. ValuEngine upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a report on Friday, July 20th. BidaskClub upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 target price on shares of WesBanco in a report on Wednesday, July 25th. Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Thursday, July 26th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of WesBanco in a report on Friday, September 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $48.75.

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WesBanco Profile

WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.

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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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