WesBanco (NASDAQ:WSBC) EVP Scott Love Sells 3,000 Shares of Stock

WesBanco, Inc. (NASDAQ:WSBC) EVP Scott Love sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was 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 owned 25,229 shares of the company’s stock, valued at approximately $1,012,187.48. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

WesBanco Price Performance

WSBC traded down $0.24 during trading on Friday, reaching $38.43. The stock had a trading volume of 127,263 shares, compared to its average volume of 859,473. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 11.04 and a beta of 0.70. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. WesBanco, Inc. has a 1-year low of $29.75 and a 1-year high of $43.02. The stock has a 50 day moving average of $38.71 and a two-hundred day moving average of $37.19.

WesBanco (NASDAQ:WSBC) last released 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. The business had revenue of $272.74 million during the quarter, compared to analyst estimates of $274.88 million. WesBanco had a return on equity of 9.58% and a net margin of 23.70%. As a group, equities analysts anticipate that WesBanco, Inc. will post 3.57 EPS for the current fiscal year.

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 4th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.0%. WesBanco’s payout ratio is 43.68%.

Institutional Investors Weigh In On WesBanco

A number of large investors have recently added to or reduced their stakes in WSBC. Legal & General Group Plc bought a new position in shares of WesBanco in the second quarter valued at approximately $8,701,000. Bank of America Corp DE bought a new stake in shares of WesBanco during the 2nd quarter worth $84,562,000. Deutsche Bank AG bought a new stake in shares of WesBanco during the 2nd quarter worth $3,914,000. Corient Private Wealth LP boosted its holdings in shares of WesBanco by 26.1% during the 2nd quarter. Corient Private Wealth LP now owns 127,193 shares of the financial services provider’s stock worth $4,968,000 after buying an additional 26,355 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in WesBanco in the 2nd quarter valued at $10,089,000. Institutional investors own 61.41% of the company’s stock.

Analysts Set New Price Targets

WSBC has been the subject of a number of research analyst reports. Royal Bank Of Canada restated a “sector perform” rating and issued a $44.00 target price on shares of WesBanco in a report on Monday, September 14th. Keefe, Bruyette & Woods cut shares of WesBanco from an “outperform” rating to a “market perform” rating and set a $42.00 target price for the company. in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of WesBanco in a research report on Friday, October 30th. Piper Sandler decreased their target price 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. Finally, DA Davidson set a $46.00 price target on shares of WesBanco in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.60.

WesBanco Company Profile

WesBanco, Inc (NASDAQ: WSBC) is a regional financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to individuals, families, businesses and institutions.

Its offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal and corporate credit services, mortgage banking and other traditional banking products.