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

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

WesBanco Stock Down 0.3%

Shares of WesBanco stock opened at $40.73 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. WesBanco, Inc. has a 52-week low of $29.57 and a 52-week high of $43.02. The company has a market capitalization of $3.91 billion, a P/E ratio of 11.84 and a beta of 0.67. The company has a 50 day moving average of $40.13 and a 200 day moving average of $36.74.

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

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a $0.38 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a yield of 3.7%. WesBanco’s dividend payout ratio (DPR) is currently 44.19%.

WesBanco announced that its board has authorized a share buyback plan on Wednesday, May 20th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of WesBanco

A number of large investors have recently made changes to their positions in WSBC. Covestor Ltd increased its position in WesBanco by 12,500.0% during the fourth quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock worth $25,000 after buying an additional 750 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of WesBanco in the fourth quarter valued at approximately $29,000. Nykredit A S purchased a new position in shares of WesBanco during the second quarter worth approximately $40,000. Federated Hermes Inc. increased its holdings in shares of 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 acquiring an additional 600 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of WesBanco in the 2nd quarter valued at $57,000. 61.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.