WesBanco (NASDAQ:WSBC) EVP Jan Pattishall-Krupinski Sells 4,500 Shares

WesBanco, Inc. (NASDAQ:WSBC) EVP Jan Pattishall-Krupinski sold 4,500 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $36.71, for a total transaction of $165,195.00. Following the completion of the sale, the executive vice president directly owned 35,924 shares of the company’s stock, valued at $1,318,770.04. This represents a 11.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

WesBanco Price Performance

Shares of WSBC stock opened at $37.28 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market capitalization of $3.59 billion, a PE ratio of 12.03 and a beta of 0.68. The firm’s 50-day moving average is $34.86 and its two-hundred day moving average is $34.81. WesBanco, Inc. has a 12 month low of $29.18 and a 12 month high of $38.10.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $257.23 million during the quarter, compared to analysts’ expectations of $264.52 million. WesBanco had a net margin of 21.12% and a return on equity of 9.76%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. Analysts predict that WesBanco, Inc. will post 3.59 earnings per share for the current year.

WesBanco announced that its board has approved a share buyback plan on Wednesday, May 20th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.52 annualized dividend and a yield of 4.1%. WesBanco’s dividend payout ratio (DPR) is 49.03%.

Hedge Funds Weigh In On WesBanco

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd increased its stake in WesBanco by 12,500.0% during the fourth quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 750 shares during the period. Hilton Head Capital Partners LLC purchased a new position in shares of WesBanco in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC grew its holdings in shares of WesBanco by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 324 shares in the last quarter. First Horizon Corp grew its holdings in shares of WesBanco by 55.4% in the fourth quarter. First Horizon Corp now owns 1,302 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 464 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in WesBanco by 71.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider’s stock worth $45,000 after buying an additional 600 shares during the period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WSBC. Raymond James Financial reiterated a “strong-buy” rating and set a $41.00 price target on shares of WesBanco in a report on Thursday, March 12th. Weiss Ratings upgraded shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. DA Davidson reaffirmed a “buy” rating and issued a $41.00 target price on shares of WesBanco in a research report on Wednesday, April 22nd. Zacks Research lowered shares of WesBanco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Finally, Piper Sandler dropped their price target on shares of WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

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.