WesBanco (NASDAQ:WSBC) Director Buys $15,888.60 in Stock

WesBanco, Inc. (NASDAQ:WSBC) Director Kerry Stemler acquired 485 shares of WesBanco stock in a transaction dated Wednesday, March 18th. The stock was purchased at an average cost of $32.76 per share, for a total transaction of $15,888.60. Following the completion of the purchase, the director owned 110,101 shares in the company, valued at approximately $3,606,908.76. The trade was a 0.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

WesBanco Trading Down 1.3%

NASDAQ WSBC traded down $0.43 during mid-day trading on Wednesday, reaching $32.64. 530,310 shares of the stock were exchanged, compared to its average volume of 522,681. WesBanco, Inc. has a one year low of $26.42 and a one year high of $38.10. The stock has a 50 day simple moving average of $35.24 and a 200-day simple moving average of $33.36. The stock has a market cap of $3.14 billion, a P/E ratio of 15.77 and a beta of 0.79. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.92 and a quick ratio of 0.92.

WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.84. WesBanco had a net margin of 15.51% and a return on equity of 8.81%. The business had revenue of $265.78 million for the quarter, compared to analyst estimates of $265.53 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, March 6th. WesBanco’s payout ratio is currently 73.43%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WSBC shares. Weiss Ratings upgraded WesBanco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. DA Davidson began coverage on shares of WesBanco in a research report on Wednesday, February 25th. They set a “buy” rating and a $44.00 price objective for the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $41.00 price objective on shares of WesBanco in a research note on Thursday, March 12th. Finally, Piper Sandler initiated coverage on shares of WesBanco in a research note on Wednesday, December 17th. They set an “overweight” rating and a $42.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $40.60.

Institutional Investors Weigh In On WesBanco

Hedge funds have recently added to or reduced their stakes in the company. Bayview Asset Management LLC boosted its stake in shares of WesBanco by 0.4% in the 4th 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 last quarter. GAMMA Investing LLC increased its position in shares of WesBanco by 41.1% during the fourth quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 324 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in WesBanco by 0.7% during the fourth quarter. Corient Private Wealth LLC now owns 50,414 shares of the financial services provider’s stock worth $1,677,000 after acquiring an additional 357 shares during the period. True Wealth Design LLC boosted its position in WesBanco by 77.9% in the third quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 384 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in WesBanco by 1.6% in the third quarter. IFP Advisors Inc now owns 24,864 shares of the financial services provider’s stock worth $794,000 after purchasing an additional 385 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

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.