Renaissance Technologies LLC Purchases 24,200 Shares of WesBanco Inc (WSBC)

Renaissance Technologies LLC increased its position in WesBanco Inc (NASDAQ:WSBC) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 422,173 shares of the financial services provider’s stock after acquiring an additional 24,200 shares during the quarter. Renaissance Technologies LLC owned about 0.91% of WesBanco worth $19,015,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sei Investments Co. grew its holdings in WesBanco by 2,054.2% during the 1st quarter. Sei Investments Co. now owns 2,542 shares of the financial services provider’s stock valued at $108,000 after buying an additional 2,424 shares in the last quarter. Denver Investment Advisors LLC purchased a new position in WesBanco during the 1st quarter valued at about $204,000. Foster & Motley Inc. purchased a new position in WesBanco during the 2nd quarter valued at about $216,000. SG Americas Securities LLC purchased a new position in WesBanco during the 1st quarter valued at about $237,000. Finally, Lbmc Investment Advisors LLC purchased a new position in WesBanco during the 2nd quarter valued at about $260,000. 59.92% of the stock is owned by institutional investors.

A number of research analysts have weighed in on the company. BidaskClub lowered WesBanco from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $48.00 target price on shares of WesBanco in a report on Wednesday, July 25th. Zacks Investment Research lowered WesBanco from a “buy” rating to a “hold” rating in a report on Tuesday, June 5th. Boenning Scattergood reaffirmed a “hold” rating on shares of WesBanco in a report on Friday, September 14th. Finally, ValuEngine lowered WesBanco from a “buy” rating to a “hold” rating in a report on Friday, June 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $47.40.

In other news, Director Charlotte A. Zuschlag sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $49.50, for a total transaction of $495,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert H. Young sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $50.71, for a total value of $101,420.00. Following the transaction, the chief financial officer now directly owns 18,533 shares of the company’s stock, valued at approximately $939,808.43. The disclosure for this sale can be found here. Insiders have sold 25,256 shares of company stock valued at $1,247,709 in the last three months. 4.14% of the stock is owned by insiders.

Shares of NASDAQ WSBC opened at $45.50 on Wednesday. WesBanco Inc has a 12 month low of $38.09 and a 12 month high of $51.12. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.93. The stock has a market cap of $2.15 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Monday, July 23rd. The financial services provider reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. WesBanco had a return on equity of 8.85% and a net margin of 24.38%. The company had revenue of $105.76 million during the quarter, compared to analyst estimates of $103.37 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. sell-side analysts anticipate that WesBanco Inc will post 3.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Thursday, September 6th. WesBanco’s payout ratio is 47.35%.

About WesBanco

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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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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