Insider Selling: WesBanco, Inc. (NASDAQ:WSBC) EVP Sells 1,125 Shares of Stock

WesBanco, Inc. (NASDAQ:WSBC) EVP Michael L. Perkins sold 1,125 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the transaction, the executive vice president now directly owns 46,817 shares in the company, valued at $1,632,508.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

WesBanco Stock Performance

Shares of WesBanco stock traded up $0.17 during trading on Friday, hitting $35.07. 107,334 shares of the company’s stock were exchanged, compared to its average volume of 246,518. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 16.78 and a beta of 0.81. The business has a 50-day simple moving average of $30.73 and a 200-day simple moving average of $29.59. WesBanco, Inc. has a 52-week low of $24.55 and a 52-week high of $36.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. WesBanco had a return on equity of 5.75% and a net margin of 14.79%. The business had revenue of $243.34 million during the quarter, compared to analyst estimates of $152.40 million. During the same quarter last year, the business posted $0.59 EPS. On average, research analysts forecast that WesBanco, Inc. will post 2.14 EPS for the current year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Friday, September 6th. WesBanco’s dividend payout ratio is currently 68.90%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $35.00 price objective on shares of WesBanco in a report on Monday, September 9th. DA Davidson raised their price target on shares of WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Hovde Group lifted their price objective on shares of WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their target price on WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Finally, Stephens lifted their price target on WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, WesBanco presently has an average rating of “Moderate Buy” and an average target price of $36.17.

Institutional Investors Weigh In On WesBanco

Hedge funds have recently modified their holdings of the company. Quarry LP increased its stake in shares of WesBanco by 215.3% during the second quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 913 shares in the last quarter. Signaturefd LLC grew its holdings in WesBanco by 214.5% in the 2nd quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after buying an additional 944 shares in the last quarter. Innealta Capital LLC acquired a new stake in WesBanco during the second quarter worth about $53,000. CWM LLC increased its holdings in shares of WesBanco by 175.2% during the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock worth $62,000 after buying an additional 1,319 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in WesBanco in the third quarter valued at $80,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.