WesBanco Inc. (WSBC) Short Interest Down 32.0% in September
WesBanco Inc. (NASDAQ:WSBC) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 1,191,140 shares, a drop of 32.0% from the August 31st total of 1,750,507 shares. Currently, 3.3% of the company’s shares are sold short. Based on an average daily trading volume, of 136,494 shares, the days-to-cover ratio is presently 8.7 days.
In other news, Director Charlotte A. Zuschlag sold 12,872 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $32.66, for a total transaction of $420,399.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Henry L. Schulhoff sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $31.85, for a total value of $95,550.00. Following the transaction, the insider now directly owns 74,376 shares in the company, valued at $2,368,875.60. The disclosure for this sale can be found here. Insiders own 4.22% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of WesBanco by 77.5% in the second quarter. Victory Capital Management Inc. now owns 4,071 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,778 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of WesBanco by 26.8% in the second quarter. Teacher Retirement System of Texas now owns 5,385 shares of the financial services provider’s stock valued at $167,000 after buying an additional 1,137 shares during the last quarter. Strs Ohio boosted its stake in shares of WesBanco by 1,325.0% in the second quarter. Strs Ohio now owns 5,700 shares of the financial services provider’s stock valued at $176,000 after buying an additional 5,300 shares during the last quarter. Walleye Trading LLC bought a new stake in shares of WesBanco during the second quarter valued at approximately $191,000. Finally, KCG Holdings Inc. bought a new stake in shares of WesBanco during the second quarter valued at approximately $206,000. Institutional investors and hedge funds own 52.73% of the company’s stock.
WSBC has been the topic of a number of recent research reports. Zacks Investment Research raised WesBanco from a “sell” rating to a “hold” rating in a research note on Saturday, September 3rd. FBR & Co set a $32.00 price objective on WesBanco and gave the company a “hold” rating in a research note on Thursday, July 21st.
Shares of WesBanco (NASDAQ:WSBC) opened at 32.88 on Friday. The company has a 50 day moving average price of $32.29 and a 200 day moving average price of $31.41. The company has a market capitalization of $1.26 billion, a PE ratio of 14.03 and a beta of 0.93. WesBanco has a 1-year low of $26.93 and a 1-year high of $34.32.
WesBanco (NASDAQ:WSBC) last issued its earnings results on Tuesday, July 19th. The financial services provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. WesBanco had a net margin of 26.00% and a return on equity of 7.99%. Equities analysts predict that WesBanco will post $2.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Wednesday, September 14th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Monday, September 12th. WesBanco’s payout ratio is currently 40.68%.
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 by full-service commercial banks, including commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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