Y Intercept Hong Kong Ltd Sells 2,121 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Y Intercept Hong Kong Ltd lessened its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 12.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,326 shares of the financial services provider’s stock after selling 2,121 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in WesBanco were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSBC. FMR LLC increased its position in WesBanco by 25.8% during the 3rd quarter. FMR LLC now owns 695,487 shares of the financial services provider’s stock valued at $20,712,000 after purchasing an additional 142,597 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of WesBanco by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock valued at $13,685,000 after purchasing an additional 21,297 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of WesBanco during the third quarter valued at about $212,000. Cerity Partners LLC increased its position in shares of WesBanco by 3.0% during the third quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider’s stock valued at $895,000 after buying an additional 867 shares during the period. Finally, Atria Investments Inc raised its stake in WesBanco by 22.7% in the third quarter. Atria Investments Inc now owns 23,103 shares of the financial services provider’s stock worth $688,000 after buying an additional 4,269 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

Insider Activity

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $34.87, for a total transaction of $39,228.75. Following the completion of the sale, 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 is accessible through this hyperlink. Corporate insiders own 3.44% of the company’s stock.

WesBanco Price Performance

WSBC opened at $35.18 on Monday. The firm has a market cap of $2.35 billion, a PE ratio of 16.83 and a beta of 0.84. The stock has a 50-day moving average price of $33.45 and a 200-day moving average price of $30.98. WesBanco, Inc. has a 1 year low of $25.56 and a 1 year high of $37.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $243.34 million during the quarter, compared to analyst estimates of $152.40 million. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. During the same period in the previous year, the business earned $0.59 EPS. Sell-side analysts predict that WesBanco, Inc. will post 2.14 earnings per share for the current fiscal year.

WesBanco Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Stephens upped their target price on WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $35.00 price objective on shares of WesBanco in a report on Monday, September 9th. Finally, Raymond James raised WesBanco from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $35.00 to $44.00 in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, WesBanco currently has an average rating of “Moderate Buy” and an average price target of $37.83.

WesBanco Company Profile

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.