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Arizona State Retirement System Cuts Stock Position in WesBanco, Inc. (NASDAQ:WSBC)

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Arizona State Retirement System lessened its holdings in WesBanco, Inc. (NASDAQ:WSBCGet Rating) by 2.9% during the first quarter, HoldingsChannel.com reports. The fund owned 17,092 shares of the financial services provider’s stock after selling 511 shares during the quarter. Arizona State Retirement System’s holdings in WesBanco were worth $587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSBC. State Street Corp increased its stake in WesBanco by 27.1% during the 4th quarter. State Street Corp now owns 2,666,868 shares of the financial services provider’s stock worth $93,990,000 after buying an additional 569,251 shares during the period. Earnest Partners LLC increased its stake in WesBanco by 24.2% during the 4th quarter. Earnest Partners LLC now owns 690,381 shares of the financial services provider’s stock worth $24,156,000 after buying an additional 134,416 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in WesBanco during the 4th quarter worth $2,826,000. Seizert Capital Partners LLC purchased a new stake in WesBanco during the 4th quarter worth $2,642,000. Finally, Barclays PLC increased its stake in WesBanco by 45.6% during the 4th quarter. Barclays PLC now owns 158,827 shares of the financial services provider’s stock worth $5,558,000 after buying an additional 49,763 shares during the period. Hedge funds and other institutional investors own 60.61% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on WSBC. B. Riley dropped their price target on shares of WesBanco from $32.00 to $29.00 in a research note on Monday, July 11th. Piper Sandler downgraded shares of WesBanco from a “neutral” rating to an “underweight” rating and set a $34.00 target price for the company. in a research report on Wednesday, May 4th. Finally, DA Davidson reaffirmed a “buy” rating on shares of WesBanco in a report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $33.67.

Insider Buying and Selling at WesBanco

In other WesBanco news, EVP Jonathan D. Dargusch sold 2,000 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $34.05, for a total transaction of $68,100.00. Following the completion of the transaction, the executive vice president now directly owns 26,615 shares of the company’s stock, valued at approximately $906,240.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other WesBanco news, EVP Jonathan D. Dargusch sold 2,000 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $34.05, for a total transaction of $68,100.00. Following the completion of the transaction, the executive vice president now directly owns 26,615 shares of the company’s stock, valued at approximately $906,240.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Clossin sold 5,000 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $32.34, for a total transaction of $161,700.00. Following the transaction, the chief executive officer now directly owns 129,393 shares of the company’s stock, valued at $4,184,569.62. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $295,340 in the last ninety days. Company insiders own 3.15% of the company’s stock.

WesBanco Trading Up 0.7 %

NASDAQ WSBC opened at $33.83 on Thursday. WesBanco, Inc. has a one year low of $29.50 and a one year high of $38.37. The company has a 50-day simple moving average of $32.44 and a 200-day simple moving average of $33.92. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market capitalization of $2.04 billion, a PE ratio of 12.04 and a beta of 0.92.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 10th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Thursday, June 9th. WesBanco’s payout ratio is 48.40%.

About WesBanco

(Get Rating)

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. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit.

Further Reading

Want to see what other hedge funds are holding WSBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WesBanco, Inc. (NASDAQ:WSBCGet Rating).

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