WesBanco (NASDAQ:WSBC) Shares Cross Above Fifty Day Moving Average After Insider Selling

WesBanco, Inc. (NASDAQ:WSBC)’s share price crossed above its 50 day moving average during trading on Monday following insider buying activity. The stock has a 50 day moving average of $38.65 and traded as high as $39.68. WesBanco shares last traded at $39.45, with a volume of 535,544 shares.

Wall Street Analyst Weigh In

WSBC has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of WesBanco in a report on Friday, October 30th. Royal Bank Of Canada restated a “sector perform” rating and issued a $44.00 price objective on shares of WesBanco in a research note on Monday, September 14th. Wall Street Zen lowered shares of WesBanco from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Keefe, Bruyette & Woods lowered shares of WesBanco from an “outperform” rating to a “market perform” rating and set a $42.00 price objective for the company. in a research report on Thursday, July 23rd. Finally, Raymond James Financial cut shares of WesBanco from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.60.

WesBanco Trading Up 2.2%

The business has a 50-day moving average price of $38.65 and a 200-day moving average price of $37.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $3.79 billion, a P/E ratio of 11.34 and a beta of 0.70.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 21st. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. WesBanco had a return on equity of 9.58% and a net margin of 23.70%. The firm had revenue of $272.74 million during the quarter, compared to analysts’ expectations of $274.88 million. Analysts anticipate that WesBanco, Inc. will post 3.57 earnings per share for the current year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 4th were paid a $0.38 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.9%. WesBanco’s dividend payout ratio is currently 43.68%.

Hedge Funds Weigh In On WesBanco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC bought a new stake in WesBanco in the third quarter valued at about $29,000. Nykredit A S bought a new position in WesBanco during the second quarter worth about $40,000. Public Employees Retirement System of Ohio bought a new position in WesBanco during the second quarter worth about $57,000. Fulcrum Asset Management LLP bought a new position in WesBanco during the third quarter worth about $82,000. Finally, GAMMA Investing LLC boosted its holdings in WesBanco by 39.0% during the third quarter. GAMMA Investing LLC now owns 2,546 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 714 shares in the last quarter. 61.41% of the stock is owned by institutional investors.

WesBanco Company Profile