Peregrine Capital Management LLC lifted its stake in WesBanco Inc (NASDAQ:WSBC) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,583 shares of the financial services provider’s stock after buying an additional 3,131 shares during the quarter. Peregrine Capital Management LLC owned about 0.33% of WesBanco worth $4,439,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV bought a new position in shares of WesBanco in the second quarter worth about $27,000. First Mercantile Trust Co. raised its stake in WesBanco by 86.9% during the 1st quarter. First Mercantile Trust Co. now owns 2,271 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,056 shares during the period. Denali Advisors LLC raised its stake in WesBanco by 85.2% during the 1st quarter. Denali Advisors LLC now owns 5,000 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 2,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in WesBanco by 25.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,538 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 1,526 shares during the period. Finally, IndexIQ Advisors LLC bought a new stake in WesBanco during the 1st quarter valued at approximately $186,000. 58.03% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on WSBC shares. Piper Sandler lifted their target price on WesBanco from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. ValuEngine raised WesBanco from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. B. Riley decreased their target price on WesBanco from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Raymond James raised WesBanco from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research note on Wednesday, June 17th. Finally, Zacks Investment Research downgraded WesBanco from a “hold” rating to a “sell” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. WesBanco currently has a consensus rating of “Hold” and a consensus target price of $30.00.
NASDAQ:WSBC opened at $19.83 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.95 and a quick ratio of 0.96. WesBanco Inc has a 1 year low of $17.46 and a 1 year high of $39.33. The stock’s 50 day simple moving average is $19.99 and its two-hundred day simple moving average is $25.17. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 10.22 and a beta of 1.02.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.28). The firm had revenue of $151.87 million during the quarter, compared to the consensus estimate of $146.49 million. WesBanco had a return on equity of 4.73% and a net margin of 15.84%. As a group, analysts anticipate that WesBanco Inc will post 1.64 EPS for the current year.
In other news, Director James W. Cornelsen sold 20,000 shares of WesBanco stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $22.42, for a total value of $448,400.00. Following the completion of the transaction, the director now owns 109,113 shares in the company, valued at approximately $2,446,313.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James W. Cornelsen sold 10,000 shares of WesBanco stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $21.70, for a total value of $217,000.00. Following the completion of the transaction, the director now owns 188,072 shares of the company’s stock, valued at approximately $4,081,162.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,836 shares of company stock valued at $883,173. Company insiders own 3.05% of the company’s stock.
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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