Victory Capital Management Inc. Sells 95,660 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Victory Capital Management Inc. decreased its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC – Get Rating) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 393,899 shares of the financial services provider’s stock after selling 95,660 shares during the period. Victory Capital Management Inc. owned 0.67% of WesBanco worth $14,566,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WSBC. Quadrant Capital Group LLC increased its stake in shares of WesBanco by 116.1% during the third quarter. Quadrant Capital Group LLC now owns 804 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 432 shares in the last quarter. Ancora Advisors LLC bought a new stake in shares of WesBanco during the first quarter valued at approximately $43,000. Resurgent Financial Advisors LLC bought a new stake in shares of WesBanco during the fourth quarter valued at approximately $50,000. EMC Capital Management bought a new stake in shares of WesBanco during the fourth quarter valued at approximately $78,000. Finally, Global Wealth Management Investment Advisory Inc. bought a new stake in shares of WesBanco during the first quarter valued at approximately $94,000. Institutional investors own 57.96% of the company’s stock.

WesBanco Trading Down 1.3 %

Shares of WesBanco stock opened at $24.74 on Friday. The company’s fifty day simple moving average is $25.39 and its 200-day simple moving average is $31.83. The stock has a market capitalization of $1.47 billion, a PE ratio of 8.17 and a beta of 0.90. WesBanco, Inc. has a 1-year low of $19.84 and a 1-year high of $41.37. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88.

WesBanco (NASDAQ:WSBC – Get Rating) last issued its quarterly earnings results on Monday, April 24th. The financial services provider reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.06). The business had revenue of $151.99 million for the quarter, compared to analysts’ expectations of $157.27 million. WesBanco had a return on equity of 8.40% and a net margin of 28.13%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS. As a group, equities analysts anticipate that WesBanco, Inc. will post 2.74 earnings per share for the current year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.66%. The ex-dividend date is Thursday, June 8th. WesBanco’s dividend payout ratio is presently 46.20%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price target on shares of WesBanco from $40.00 to $35.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. Stephens assumed coverage on shares of WesBanco in a research report on Monday, April 3rd. They set an “equal weight” rating and a $28.00 price target for the company. StockNews.com assumed coverage on shares of WesBanco in a report on Thursday, May 18th. They issued a “sell” rating on the stock. DA Davidson dropped their target price on shares of WesBanco from $38.00 to $31.00 in a report on Wednesday, April 26th. Finally, Piper Sandler dropped their target price on shares of WesBanco from $34.00 to $29.00 in a report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.57.

Insider Transactions at WesBanco

In other news, Director Robert J. Fitzsimmons bought 15,500 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were bought at an average price of $23.10 per share, for a total transaction of $358,050.00. Following the purchase, the director now owns 46,908 shares in the company, valued at $1,083,574.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Gregory S. Proctor, Jr. bought 3,500 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average price of $28.08 per share, for a total transaction of $98,280.00. Following the purchase, the director now owns 41,913 shares in the company, valued at $1,176,917.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert J. Fitzsimmons bought 15,500 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were purchased at an average price of $23.10 per share, for a total transaction of $358,050.00. Following the purchase, the director now owns 46,908 shares in the company, valued at approximately $1,083,574.80. The disclosure for this purchase can be found here. Insiders have acquired 25,500 shares of company stock worth $603,155 in the last 90 days. 3.07% of the stock is currently owned by insiders.

WesBanco Profile

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WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services.

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