WesBanco (NASDAQ:WSBC) Stock: Insider Scott Love Sells 3,000 Shares

WesBanco, Inc. (NASDAQ:WSBC) EVP Scott Love sold 3,000 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $40.12, for a total value of $120,360.00. Following the completion of the transaction, the executive vice president directly owned 25,229 shares in the company, valued at $1,012,187.48. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

WesBanco Stock Down 0.2%

Shares of NASDAQ WSBC opened at $38.59 on Friday. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 11.09 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50-day moving average of $38.67 and a two-hundred day moving average of $37.22. WesBanco, Inc. has a 1 year low of $29.75 and a 1 year high of $43.02.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $0.89 earnings per share (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 business had revenue of $272.74 million during the quarter, compared to analysts’ expectations of $274.88 million. On average, analysts forecast that WesBanco, Inc. will post 3.57 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WSBC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WesBanco in a report on Friday, October 30th. Raymond James Financial cut shares of WesBanco from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 6th. Royal Bank Of Canada reissued a “sector perform” rating and set a $44.00 price objective on shares of WesBanco in a report on Monday, September 14th. Wall Street Zen downgraded shares of WesBanco from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, Piper Sandler lowered their target price on shares of WesBanco from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WSBC. Maryland State Retirement & Pension System grew its position in shares of WesBanco by 53.2% during the third quarter. Maryland State Retirement & Pension System now owns 21,431 shares of the financial services provider’s stock worth $802,000 after acquiring an additional 7,442 shares during the last quarter. Jefferies Financial Group Inc. increased its holdings in shares of WesBanco by 59.0% in the 3rd quarter. Jefferies Financial Group Inc. now owns 17,900 shares of the financial services provider’s stock valued at $670,000 after acquiring an additional 6,640 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in WesBanco in the 3rd quarter valued at $1,852,000. Fulcrum Asset Management LLP purchased a new stake in WesBanco in the 3rd quarter valued at $82,000. Finally, StoneX Group Inc. purchased a new stake in WesBanco in the 3rd quarter valued at $436,000. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc (NASDAQ: WSBC) is a regional financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to individuals, families, businesses and institutions.

Its offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal and corporate credit services, mortgage banking and other traditional banking products.