Louis Michael Altman Purchases 3,000 Shares of WesBanco (NASDAQ:WSBC) Stock

WesBanco, Inc. (NASDAQ:WSBC) Director Louis Michael Altman bought 3,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average price of $33.72 per share, for a total transaction of $101,160.00. Following the completion of the acquisition, the director owned 33,164 shares of the company’s stock, valued at $1,118,290.08. The trade was a 9.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

WesBanco Stock Performance

NASDAQ WSBC traded down $0.08 on Friday, hitting $34.02. 480,971 shares of the stock were exchanged, compared to its average volume of 555,673. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.92 and a quick ratio of 0.92. The business’s fifty day moving average is $34.87 and its 200 day moving average is $33.85. WesBanco, Inc. has a 52 week low of $28.74 and a 52 week high of $38.10. The company has a market capitalization of $3.27 billion, a PE ratio of 10.97 and a beta of 0.74.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $257.23 million for the quarter, compared to analyst estimates of $264.52 million. WesBanco had a net margin of 21.12% and a return on equity of 9.83%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. Research analysts anticipate that WesBanco, Inc. will post 3.73 EPS for the current fiscal year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, March 6th. WesBanco’s dividend payout ratio is presently 73.43%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WSBC. Piper Sandler dropped their target price on shares of WesBanco from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday. DA Davidson reaffirmed a “buy” rating and issued a $41.00 target price on shares of WesBanco in a report on Wednesday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $41.00 target price on shares of WesBanco in a report on Thursday, March 12th. Finally, Weiss Ratings raised shares of WesBanco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $39.60.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Covestor Ltd raised its holdings in WesBanco by 12,500.0% in the 4th 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 period. Smartleaf Asset Management LLC raised its holdings in WesBanco by 255.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 574 shares during the period. First Horizon Corp bought a new position in WesBanco in the 3rd quarter valued at about $27,000. Hilton Head Capital Partners LLC bought a new position in WesBanco in the 4th quarter valued at about $29,000. Finally, True Wealth Design LLC raised its holdings in WesBanco by 77.9% in the 3rd quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 384 shares during the period. 61.41% of the stock is owned by institutional investors.

About WesBanco

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.