Insider Selling: WesBanco (NASDAQ:WSBC) Director Sells $125,532.30 in Stock

WesBanco, Inc. (NASDAQ:WSBC) Director Denise Knouse-Snyder sold 3,070 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $40.89, for a total transaction of $125,532.30. Following the completion of the transaction, the director owned 15,035 shares in the company, valued at $614,781.15. This represents a 16.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

WesBanco Trading Down 0.2%

WSBC opened at $40.44 on Thursday. The stock has a market capitalization of $3.88 billion, a PE ratio of 11.76 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.93. WesBanco, Inc. has a 12-month low of $29.57 and a 12-month high of $43.02. The firm’s fifty day moving average price is $40.32 and its 200 day moving average price is $36.78.

WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. WesBanco had a return on equity of 9.72% and a net margin of 23.35%.The company had revenue of $275.79 million for the quarter, compared to the consensus estimate of $267.71 million. As a group, research analysts expect that WesBanco, Inc. will post 3.57 EPS for the current fiscal year.

WesBanco declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 20th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, September 4th. WesBanco’s dividend payout ratio (DPR) is presently 44.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of WesBanco in a research note on Monday, August 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $42.00 price objective on shares of WesBanco in a research note on Thursday, July 23rd. Royal Bank Of Canada raised their target price on WesBanco from $41.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 23rd. Zacks Research upgraded shares of WesBanco from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Piper Sandler upped their target price on WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.20.

Institutional Investors Weigh In On WesBanco

Several large investors have recently modified their holdings of the stock. Bayview Asset Management LLC increased its stake in shares of WesBanco by 0.4% in the fourth quarter. Bayview Asset Management LLC now owns 80,300 shares of the financial services provider’s stock worth $2,669,000 after buying an additional 300 shares during the period. Commonwealth Financial Services LLC grew its holdings in shares of WesBanco by 3.4% during the 1st 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 period. Corient Private Wealth LLC grew its stake in WesBanco by 0.7% in the fourth quarter. Corient Private Wealth LLC now owns 50,414 shares of the financial services provider’s stock worth $1,677,000 after purchasing an additional 357 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of WesBanco by 3.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,341 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 390 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of WesBanco by 1.9% during the first quarter. D.A. Davidson & CO. now owns 22,489 shares of the financial services provider’s stock valued at $776,000 after purchasing an additional 424 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors.

WesBanco Company Profile

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.