Scott A. Love Purchases 1,000 Shares of WesBanco, Inc. (NASDAQ:WSBC) Stock

WesBanco, Inc. (NASDAQ:WSBC – Get Rating) EVP Scott A. Love acquired 1,000 shares of WesBanco stock in a transaction dated Friday, May 19th. The stock was bought at an average price of $24.40 per share, with a total value of $24,400.00. Following the completion of the purchase, the executive vice president now directly owns 9,000 shares in the company, valued at $219,600. The purchase was disclosed in a document filed with the SEC, which is available at this link.

WesBanco Stock Down 2.9 %

WSBC opened at $23.35 on Monday. The firm has a 50-day simple moving average of $27.90 and a two-hundred day simple moving average of $34.23. WesBanco, Inc. has a 52 week low of $19.84 and a 52 week high of $41.37. The company has a market capitalization of $1.38 billion, a PE ratio of 7.71 and a beta of 0.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67.

WesBanco (NASDAQ:WSBC – Get Rating) last released its quarterly earnings data on Monday, April 24th. The financial services provider reported $0.71 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.06). WesBanco had a net margin of 28.13% and a return on equity of 8.40%. The company had revenue of $151.99 million for the quarter, compared to the consensus estimate of $157.27 million. During the same period last year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts forecast that WesBanco, Inc. will post 2.74 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Shareholders of record on Friday, March 10th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.00%. The ex-dividend date was Thursday, March 9th. WesBanco’s dividend payout ratio (DPR) is presently 46.20%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its holdings in shares of WesBanco by 116.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 804 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 432 shares during the last quarter. Independence Bank of Kentucky bought a new position in shares of WesBanco in the 1st quarter valued at about $29,000. Quarry LP bought a new position in shares of WesBanco in the 1st quarter valued at about $35,000. Ancora Advisors LLC bought a new position in shares of WesBanco in the 1st quarter valued at about $43,000. Finally, Resurgent Financial Advisors LLC bought a new position in shares of WesBanco in the 4th quarter valued at about $50,000. Institutional investors own 58.78% of the company’s stock.

Analysts Set New Price Targets

WSBC has been the subject of several analyst reports. Stephens initiated coverage on WesBanco in a research note on Monday, April 3rd. They issued an “equal weight” rating and a $28.00 price objective for the company. Piper Sandler reduced their price objective on WesBanco from $34.00 to $29.00 in a research note on Monday, May 1st. StockNews.com started coverage on WesBanco in a research note on Thursday. They issued a “sell” rating for the company. Royal Bank of Canada cut their price target on WesBanco from $36.00 to $32.00 in a research note on Wednesday, April 26th. Finally, Keefe, Bruyette & Woods cut their price target on WesBanco from $40.00 to $35.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $31.57.

WesBanco Company Profile

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WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.