WesBanco, Inc. (NASDAQ:WSBC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in WesBanco, Inc. (NASDAQ:WSBC) by 44.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,678 shares of the financial services provider’s stock after selling 30,213 shares during the period. JPMorgan Chase & Co.’s holdings in WesBanco were worth $1,435,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in WesBanco by 0.5% in the first quarter. IFP Advisors Inc now owns 16,894 shares of the financial services provider’s stock worth $644,000 after buying an additional 92 shares during the period. Strs Ohio increased its stake in WesBanco by 3.1% in the first quarter. Strs Ohio now owns 27,000 shares of the financial services provider’s stock worth $1,028,000 after buying an additional 800 shares during the period. Waldron LP increased its stake in WesBanco by 9.0% in the first quarter. Waldron LP now owns 14,838 shares of the financial services provider’s stock worth $565,000 after buying an additional 1,220 shares during the period. Dalton Greiner Hartman Maher & Co. increased its stake in WesBanco by 3.1% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 279,044 shares of the financial services provider’s stock worth $10,634,000 after buying an additional 8,519 shares during the period. Finally, Alpha Windward LLC purchased a new stake in WesBanco during the first quarter worth $444,000. Hedge funds and other institutional investors own 56.95% of the company’s stock.

WesBanco, Inc. (WSBC) opened at 39.25 on Friday. WesBanco, Inc. has a 12-month low of $30.46 and a 12-month high of $44.19. The company has a market cap of $1.73 billion, a PE ratio of 18.19 and a beta of 0.94. The firm has a 50 day moving average price of $39.34 and a 200 day moving average price of $39.64.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.01. WesBanco had a net margin of 23.39% and a return on equity of 7.57%. The business had revenue of $94.26 million during the quarter, compared to the consensus estimate of $96.70 million. During the same period in the previous year, the business posted $0.58 earnings per share. On average, analysts anticipate that WesBanco, Inc. will post $2.48 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Shareholders of record on Friday, June 9th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.65%. WesBanco’s payout ratio is presently 48.15%.

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Several research firms have issued reports on WSBC. Zacks Investment Research cut WesBanco from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. FBR & Co reaffirmed a “hold” rating on shares of WesBanco in a report on Thursday. BidaskClub raised WesBanco from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. ValuEngine raised WesBanco from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, DA Davidson raised WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $40.20.

In other WesBanco news, EVP Brent E. Richmond sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $40.86, for a total value of $204,300.00. Following the transaction, the executive vice president now directly owns 23,302 shares of the company’s stock, valued at $952,119.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregory A. Dugan sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $40.72, for a total transaction of $325,760.00. Following the completion of the transaction, the executive vice president now directly owns 13,051 shares in the company, valued at $531,436.72. The disclosure for this sale can be found here. 4.05% of the stock is currently 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, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.

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