Denise Knouse-Snyder Sells 3,070 Shares of WesBanco (NASDAQ:WSBC) Stock

WesBanco, Inc. (NASDAQ:WSBC) Director Denise Knouse-Snyder sold 3,070 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $40.89, for a total transaction of $125,532.30. Following the transaction, the director directly owned 15,035 shares of the company’s stock, valued at $614,781.15. This represents a 16.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

WesBanco Stock Down 0.5%

NASDAQ WSBC opened at $40.51 on Wednesday. WesBanco, Inc. has a twelve month low of $29.57 and a twelve month high of $43.02. The stock has a market cap of $3.89 billion, a PE ratio of 11.78 and a beta of 0.67. The firm has a 50-day simple moving average of $40.22 and a 200 day simple moving average of $36.76. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.94.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.85 by $0.07. WesBanco had a return on equity of 9.72% and a net margin of 23.35%.The firm had revenue of $275.79 million during the quarter, compared to analysts’ expectations of $267.71 million. On average, research analysts forecast that WesBanco, Inc. will post 3.57 EPS for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, September 4th. WesBanco’s dividend payout ratio is presently 44.19%.

WesBanco declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 20th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

WSBC has been the topic of a number of analyst reports. Piper Sandler upped their target price on shares of WesBanco from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Wall Street Zen raised WesBanco from a “sell” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada upped their price objective on WesBanco from $41.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of WesBanco in a report on Monday, August 3rd. Finally, Zacks Research upgraded WesBanco from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.20.

Institutional Trading of WesBanco

Several large investors have recently added to or reduced their stakes in WSBC. Covestor Ltd raised its stake in shares of WesBanco by 12,500.0% in the fourth quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 750 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in WesBanco during the 4th quarter valued at $29,000. Nykredit A S bought a new position in WesBanco in the 2nd quarter valued at $40,000. Federated Hermes Inc. raised its position in WesBanco by 71.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 600 shares during the last quarter. Finally, Strs Ohio boosted its stake in WesBanco by 54.5% in the fourth quarter. Strs Ohio now owns 1,700 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 600 shares in the last quarter. 61.41% of the stock is owned by institutional investors.

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.