WesBanco (NASDAQ:WSBC) EVP Sells $120,360.00 in Stock

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

WesBanco Stock Performance

Shares of NASDAQ:WSBC opened at $38.59 on Monday. WesBanco, Inc. has a 12-month low of $29.75 and a 12-month high of $43.02. The business has a 50 day moving average of $38.67 and a 200-day moving average of $37.22. 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 stock has a market cap of $3.70 billion, a PE ratio of 11.09 and a beta of 0.70.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $0.89 earnings per share 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 for the quarter, compared to analysts’ expectations of $274.88 million. As a group, equities research analysts forecast that WesBanco, Inc. will post 3.57 earnings per share for the current year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders 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 annualized dividend and a yield of 3.9%. WesBanco’s payout ratio is 43.68%.

Analysts Set New Price Targets

Several research analysts have recently commented on WSBC shares. Wall Street Zen cut shares of WesBanco from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Piper Sandler dropped their price target on shares of WesBanco from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. DA Davidson set a $46.00 price target on WesBanco in a research note on Thursday, July 23rd. Royal Bank Of Canada reissued a “sector perform” rating and set a $44.00 price target on shares of WesBanco in a research report on Monday, September 14th. Finally, Raymond James Financial downgraded WesBanco from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 6th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, WesBanco currently has an average rating of “Hold” and a consensus price target of $43.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Maryland State Retirement & Pension System raised its stake in 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 in the last quarter. Jefferies Financial Group Inc. boosted its stake 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 purchasing an additional 6,640 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of WesBanco in the 3rd quarter valued at approximately $1,852,000. Fulcrum Asset Management LLP acquired a new stake in shares of WesBanco in the 3rd quarter valued at approximately $82,000. Finally, StoneX Group Inc. bought a new stake in shares of WesBanco during the 3rd quarter valued at approximately $436,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

About WesBanco