Jacobs Asset Management LLC Makes New Investment in WesBanco, Inc. (NASDAQ:WSBC)

Jacobs Asset Management LLC acquired a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC) during the third quarter, HoldingsChannel.com reports. The fund acquired 72,727 shares of the financial services provider’s stock, valued at approximately $2,166,000. WesBanco comprises about 1.4% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 22nd largest position.

A number of other hedge funds have also made changes to their positions in the stock. Quarry LP raised its holdings in shares of WesBanco by 215.3% in the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock worth $37,000 after buying an additional 913 shares in the last quarter. Signaturefd LLC increased its position in shares of WesBanco by 214.5% in the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 944 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of WesBanco during the second quarter worth approximately $53,000. CWM LLC boosted its stake in shares of WesBanco by 175.2% in the third quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,319 shares during the period. Finally, nVerses Capital LLC bought a new stake in WesBanco during the third quarter worth $80,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

Insider Buying and Selling

In other news, EVP Michael L. Perkins sold 1,125 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $34.87, for a total transaction of $39,228.75. Following the sale, the executive vice president now owns 46,817 shares in the company, valued at $1,632,508.79. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.44% of the stock is owned by insiders.

WesBanco Stock Performance

Shares of NASDAQ:WSBC opened at $35.28 on Tuesday. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 16.88 and a beta of 0.84. The company has a 50-day moving average price of $32.21 and a 200-day moving average price of $30.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $37.36.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $243.34 million during the quarter, compared to the consensus estimate of $152.40 million. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. During the same period in the prior year, the firm posted $0.59 earnings per share. As a group, equities analysts anticipate that WesBanco, Inc. will post 2.14 EPS for the current year.

WesBanco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.37 dividend. This is an increase from WesBanco’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Friday, December 6th. WesBanco’s dividend payout ratio is presently 68.90%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WSBC. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a research report on Monday, September 9th. Stephens boosted their target price on shares of WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, WesBanco currently has an average rating of “Moderate Buy” and an average price target of $36.17.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.