SG Americas Securities LLC Sells 14,822 Shares of WesBanco, Inc. $WSBC

SG Americas Securities LLC lowered its position in shares of WesBanco, Inc. (NASDAQ:WSBC) by 37.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,786 shares of the financial services provider’s stock after selling 14,822 shares during the quarter. SG Americas Securities LLC’s holdings in WesBanco were worth $855,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of WesBanco in the fourth quarter valued at about $1,492,000. Rockefeller Capital Management L.P. raised its stake in WesBanco by 36.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,572 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 692 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in WesBanco by 0.7% in the 4th quarter. Corient Private Wealth LLC now owns 50,414 shares of the financial services provider’s stock valued at $1,677,000 after purchasing an additional 357 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in WesBanco by 3.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,341 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 390 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in shares of WesBanco during the 4th quarter worth approximately $439,000. Institutional investors own 61.41% of the company’s stock.

Insider Activity at WesBanco

In other WesBanco news, EVP Jan Pattishall-Krupinski sold 4,500 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $36.71, for a total transaction of $165,195.00. Following the sale, the executive vice president owned 35,924 shares of the company’s stock, valued at approximately $1,318,770.04. The trade was a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph R. Robinson purchased 1,000 shares of the stock in a transaction dated Monday, April 27th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $658,608.72. This represents a 5.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 7,000 shares of company stock worth $236,500. Corporate insiders own 2.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WSBC shares. Weiss Ratings raised shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Raymond James Financial reissued a “strong-buy” rating and set a $41.00 price target on shares of WesBanco in a research report on Thursday, March 12th. DA Davidson restated a “buy” rating and set a $41.00 price objective on shares of WesBanco in a research note on Wednesday, April 22nd. Zacks Research raised WesBanco from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Piper Sandler increased their target price on WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, WesBanco currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.25.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $39.64 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 12.79 and a beta of 0.67. WesBanco, Inc. has a 12 month low of $29.18 and a 12 month high of $40.26. The stock has a 50-day moving average price of $35.40 and a two-hundred day moving average price of $35.09.

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

WesBanco announced that its Board of Directors has approved a share buyback plan on Wednesday, May 20th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were given a $0.38 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.8%. WesBanco’s dividend payout ratio (DPR) is currently 49.03%.

About WesBanco

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.