WesBanco Inc. (WSBC) EVP Michael L. Perkins Sells 2,000 Shares
WesBanco Inc. (NASDAQ:WSBC) EVP Michael L. Perkins sold 2,000 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $39.45, for a total value of $78,900.00. Following the completion of the transaction, the executive vice president now owns 7,858 shares of the company’s stock, valued at $309,998.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
WesBanco Inc. (NASDAQ:WSBC) traded up 0.114% during midday trading on Tuesday, reaching $39.525. The company had a trading volume of 23,043 shares. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 17.933 and a beta of 0.78. WesBanco Inc. has a one year low of $26.93 and a one year high of $39.58. The company has a 50-day moving average price of $34.22 and a 200-day moving average price of $32.38.
WesBanco (NASDAQ:WSBC) last announced its earnings results on Tuesday, October 25th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.13. WesBanco had a return on equity of 7.72% and a net margin of 24.20%. During the same period in the prior year, the business posted $0.58 earnings per share. On average, equities analysts expect that WesBanco Inc. will post $2.20 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Friday, December 9th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, December 7th. WesBanco’s dividend payout ratio is currently 43.24%.
A number of equities analysts have recently issued reports on WSBC shares. Zacks Investment Research upgraded WesBanco from a “sell” rating to a “hold” rating in a research report on Saturday, August 20th. FBR & Co raised their price objective on WesBanco from $32.00 to $33.00 and gave the stock a “mkt perform” rating in a research report on Thursday, October 27th. Finally, Macquarie downgraded WesBanco from an “outperform” rating to a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $33.00.
Several hedge funds and other institutional investors have recently made changes to their positions in WSBC. Cornerstone Capital Management Holdings LLC. boosted its stake in WesBanco by 423.8% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 31,950 shares of the financial services provider’s stock worth $1,049,000 after buying an additional 25,850 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of WesBanco during the third quarter worth $870,000. Citadel Advisors LLC bought a new stake in shares of WesBanco during the third quarter worth $1,621,000. Morgan Stanley raised its stake in shares of WesBanco by 38.1% in the third quarter. Morgan Stanley now owns 19,686 shares of the financial services provider’s stock worth $648,000 after buying an additional 5,435 shares during the period. Finally, Northern Trust Corp raised its stake in shares of WesBanco by 9.2% in the third quarter. Northern Trust Corp now owns 857,195 shares of the financial services provider’s stock worth $28,185,000 after buying an additional 72,548 shares during the period. 53.44% of the stock is owned by hedge funds and other institutional investors.
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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