BNP Paribas Arbitrage SA boosted its position in shares of WesBanco Inc. (NASDAQ:WSBC) by 142.1% during the third quarter, Holdings Channel reports. The institutional investor owned 3,372 shares of the financial services provider’s stock after buying an additional 1,979 shares during the period. BNP Paribas Arbitrage SA’s holdings in WesBanco were worth $111,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of WesBanco by 77.5% in the second quarter. Victory Capital Management Inc. now owns 4,071 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,778 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of WesBanco by 26.8% in the second quarter. Teacher Retirement System of Texas now owns 5,385 shares of the financial services provider’s stock valued at $167,000 after buying an additional 1,137 shares in the last quarter. Strs Ohio boosted its stake in shares of WesBanco by 1,325.0% in the second quarter. Strs Ohio now owns 5,700 shares of the financial services provider’s stock valued at $176,000 after buying an additional 5,300 shares in the last quarter. Walleye Trading LLC acquired a new stake in shares of WesBanco during the second quarter valued at about $191,000. Finally, KCG Holdings Inc. acquired a new stake in shares of WesBanco during the second quarter valued at about $206,000. 52.72% of the stock is owned by hedge funds and other institutional investors.
WesBanco Inc. (NASDAQ:WSBC) opened at 32.69 on Friday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 13.95 and a beta of 0.88. The stock’s 50 day moving average is $32.64 and its 200-day moving average is $31.68. WesBanco Inc. has a 12 month low of $26.93 and a 12 month high of $34.32.
WesBanco (NASDAQ:WSBC) last announced its earnings results on Tuesday, July 19th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. WesBanco had a return on equity of 7.99% and a net margin of 26.00%. On average, equities research analysts expect that WesBanco Inc. will post $2.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Wednesday, September 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Monday, September 12th. WesBanco’s payout ratio is 40.68%.
Several brokerages have recently issued reports on WSBC. Zacks Investment Research raised shares of WesBanco from a “sell” rating to a “hold” rating in a research report on Saturday, September 17th. FBR & Co set a $32.00 target price on shares of WesBanco and gave the company a “hold” rating in a report on Thursday, July 21st.
In related news, Director Charlotte A. Zuschlag sold 12,872 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $32.66, for a total transaction of $420,399.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Henry L. Schulhoff sold 3,000 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $31.85, for a total value of $95,550.00. Following the transaction, the insider now owns 74,376 shares of the company’s stock, valued at $2,368,875.60. The disclosure for this sale can be found here. 4.22% of the stock is owned by company insiders.
WesBanco Company Profile
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services by full-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, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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