California State Teachers Retirement System Reduces Stake in WesBanco Inc (WSBC)

California State Teachers Retirement System cut its position in WesBanco Inc (NASDAQ:WSBC) by 9.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,343 shares of the financial services provider’s stock after selling 7,264 shares during the quarter. California State Teachers Retirement System’s holdings in WesBanco were worth $2,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. grew its stake in shares of WesBanco by 6.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock valued at $146,000 after buying an additional 229 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of WesBanco in the second quarter valued at $211,000. Victory Capital Management Inc. grew its stake in shares of WesBanco by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after buying an additional 801 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of WesBanco in the third quarter valued at $220,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in WesBanco by 22.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,695 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 1,045 shares in the last quarter. 59.11% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on WSBC shares. BidaskClub cut WesBanco from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Zacks Investment Research cut WesBanco from a “buy” rating to a “hold” rating in a research note on Saturday, December 30th. Boenning Scattergood reissued a “hold” rating on shares of WesBanco in a research note on Friday, October 20th. DA Davidson set a $48.00 target price on WesBanco and gave the stock a “buy” rating in a research note on Thursday, December 21st. Finally, FBR & Co set a $40.00 target price on WesBanco and gave the stock a “hold” rating in a research note on Friday, October 20th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $42.80.

In other news, Director F Eric Nelson, Jr. sold 12,500 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $42.06, for a total transaction of $525,750.00. Following the completion of the transaction, the director now directly owns 29,717 shares of the company’s stock, valued at approximately $1,249,897.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.05% of the company’s stock.

WesBanco Inc (NASDAQ:WSBC) opened at $42.60 on Friday. WesBanco Inc has a one year low of $34.81 and a one year high of $43.77. The company has a market capitalization of $1,890.00, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.50 and a beta of 1.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.85.

WesBanco (NASDAQ:WSBC) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.03). WesBanco had a return on equity of 7.66% and a net margin of 24.73%. The company had revenue of $95.15 million for the quarter, compared to analyst estimates of $98.37 million. During the same period in the previous year, the firm earned $0.60 earnings per share. analysts anticipate that WesBanco Inc will post 2.41 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.44%. WesBanco’s dividend payout ratio is currently 44.64%.

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WesBanco 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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Institutional Ownership by Quarter for WesBanco (NASDAQ:WSBC)

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