Insider Selling: WesBanco (NASDAQ:WSBC) EVP Sells $165,195.00 in Stock

WesBanco, Inc. (NASDAQ:WSBC) EVP Jan Pattishall-Krupinski sold 4,500 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $36.71, for a total value of $165,195.00. Following the sale, the executive vice president directly owned 35,924 shares of the company’s stock, valued at $1,318,770.04. The trade was a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

WesBanco Price Performance

WesBanco stock opened at $38.54 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The business has a 50 day simple moving average of $34.94 and a 200-day simple moving average of $34.88. WesBanco, Inc. has a 12 month low of $29.18 and a 12 month high of $38.65. The stock has a market capitalization of $3.71 billion, a PE ratio of 12.43 and a beta of 0.68.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $257.23 million for the quarter, compared to analyst estimates of $264.52 million. WesBanco had a net margin of 21.12% and a return on equity of 9.76%. WesBanco’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. Equities analysts predict that WesBanco, Inc. will post 3.59 earnings per share for the current year.

WesBanco declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 20th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.9%. WesBanco’s payout ratio is presently 49.03%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $41.00 price objective on shares of WesBanco in a report on Thursday, March 12th. Piper Sandler cut their target price on WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. DA Davidson reissued a “buy” rating and issued a $41.00 price target on shares of WesBanco in a report on Wednesday, April 22nd. Zacks Research upgraded WesBanco from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Weiss Ratings raised WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Institutional Investors Weigh In On WesBanco

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bayview Asset Management LLC grew its holdings in WesBanco by 0.4% during the 4th quarter. Bayview Asset Management LLC now owns 80,300 shares of the financial services provider’s stock valued at $2,669,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of WesBanco by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 324 shares during the last quarter. Commonwealth Financial Services LLC raised its holdings in shares of WesBanco by 3.4% in the first quarter. Commonwealth Financial Services LLC now owns 10,329 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 342 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of WesBanco by 0.7% in the fourth quarter. Corient Private Wealth LLC now owns 50,414 shares of the financial services provider’s stock valued at $1,677,000 after acquiring an additional 357 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of WesBanco by 1.6% in the third quarter. IFP Advisors Inc now owns 24,864 shares of the financial services provider’s stock valued at $794,000 after acquiring an additional 385 shares in the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.