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

WesBanco, Inc. (NASDAQ:WSBC) Director Kerry Stemler acquired 485 shares of WesBanco stock in a transaction that occurred on Wednesday, March 18th. The stock was acquired 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 directly owned 110,101 shares of the company’s stock, valued at $3,606,908.76. This represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

WesBanco Price Performance

NASDAQ WSBC traded down $0.43 during trading on Wednesday, hitting $32.64. 530,310 shares of the company’s stock were exchanged, compared to its average volume of 522,681. The company has a market cap of $3.14 billion, a PE ratio of 15.77 and a beta of 0.79. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $38.10. The stock’s 50 day moving average price is $35.24 and its two-hundred day moving average price is $33.36.

WesBanco (NASDAQ:WSBC) last announced its quarterly 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. The company had revenue of $265.78 million for the quarter, compared to analyst estimates of $265.53 million. WesBanco had a net margin of 15.51% and a return on equity of 8.81%. During the same period in the previous year, the firm posted $0.71 EPS. Research analysts expect that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Trading of WesBanco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its position in shares of WesBanco by 36.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,572 shares of the financial services provider’s stock valued at $86,000 after buying an additional 692 shares during the last quarter. Corient Private Wealth LLC lifted its stake 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 worth $1,677,000 after acquiring an additional 357 shares during the period. Hsbc Holdings PLC bought a new stake in WesBanco in the fourth quarter valued at approximately $1,492,000. Mercer Global Advisors Inc. ADV boosted its holdings in WesBanco by 3.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,341 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 390 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in WesBanco during the 4th quarter valued at approximately $439,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

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.