American Century Companies Inc. purchased a new position in WesBanco, Inc. (NASDAQ:WSBC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,546 shares of the financial services provider’s stock, valued at approximately $304,000.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of WesBanco by 5.7% in the 1st quarter. BlackRock Inc. now owns 5,459,082 shares of the financial services provider’s stock worth $196,855,000 after buying an additional 296,406 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of WesBanco by 9.7% in the 1st quarter. Geode Capital Management LLC now owns 1,167,254 shares of the financial services provider’s stock valued at $42,091,000 after purchasing an additional 103,047 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of WesBanco by 13.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,079,156 shares of the financial services provider’s stock valued at $38,451,000 after purchasing an additional 128,475 shares in the last quarter. Axiom Financial Strategies LLC boosted its stake in shares of WesBanco by 0.3% in the 1st quarter. Axiom Financial Strategies LLC now owns 654,472 shares of the financial services provider’s stock valued at $23,600,000 after purchasing an additional 2,057 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of WesBanco by 6.5% in the 1st quarter. Clearbridge Investments LLC now owns 606,383 shares of the financial services provider’s stock valued at $21,866,000 after purchasing an additional 37,179 shares in the last quarter. 62.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WSBC opened at $31.83 on Friday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 9.31 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $32.82 and a two-hundred day simple moving average of $35.48. WesBanco, Inc. has a twelve month low of $19.57 and a twelve month high of $39.87.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 10th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $1.32 annualized dividend and a dividend yield of 4.15%. WesBanco’s dividend payout ratio is 70.21%.
A number of equities research analysts have recently issued reports on WSBC shares. Raymond James cut shares of WesBanco from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 8th. Zacks Investment Research cut shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Thursday, August 5th. Finally, B. Riley reaffirmed a “neutral” rating on shares of WesBanco in a research note on Tuesday, July 27th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.25.
WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.
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