Captrust Financial Advisors Has $308,000 Position in WesBanco, Inc. (NASDAQ:WSBC)

Captrust Financial Advisors grew its position in WesBanco, Inc. (NASDAQ:WSBC) by 28.6% in the third quarter, HoldingsChannel.com reports. The fund owned 10,355 shares of the financial services provider’s stock after buying an additional 2,302 shares during the quarter. Captrust Financial Advisors’ holdings in WesBanco were worth $308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP lifted its holdings in WesBanco by 215.3% during the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock worth $37,000 after buying an additional 913 shares in the last quarter. Signaturefd LLC grew its holdings in WesBanco by 214.5% during the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 944 shares during the period. Innealta Capital LLC bought a new stake in shares of WesBanco in the 2nd quarter valued at $53,000. CWM LLC grew its stake in WesBanco by 175.2% in the third quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,319 shares during the period. Finally, nVerses Capital LLC bought a new stake in WesBanco during the 3rd quarter worth approximately $80,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WSBC. Royal Bank of Canada reiterated a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a report on Monday, September 9th. Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. Finally, Stephens raised their target price 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. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, WesBanco presently has a consensus rating of “Moderate Buy” and an average price target of $37.83.

WesBanco Stock Performance

Shares of NASDAQ:WSBC opened at $35.18 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36. The company’s 50 day moving average price is $33.45 and its two-hundred day moving average price is $30.95. The firm has a market cap of $2.35 billion, a PE ratio of 16.83 and a beta of 0.84.

WesBanco (NASDAQ:WSBC) last posted 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. The firm had revenue of $243.34 million for the quarter, compared to analyst estimates of $152.40 million. WesBanco had a return on equity of 5.75% and a net margin of 14.79%. During the same quarter last year, the company earned $0.59 EPS. Equities research analysts predict that WesBanco, Inc. will post 2.14 earnings per share for the current year.

WesBanco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Friday, December 6th. This is an increase from WesBanco’s previous quarterly dividend of $0.36. WesBanco’s payout ratio is 70.81%.

Insider Buying and Selling

In other news, EVP Michael L. Perkins sold 1,125 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the completion of the transaction, the executive vice president now directly owns 46,817 shares in the company, valued at approximately $1,632,508.79. The trade was a 2.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.44% of the stock is currently owned by company insiders.

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.