WesBanco (NASDAQ:WSBC) Director Acquires $25,000.00 in Stock

Key Points

• WesBanco Director Louis Michael Altman purchased 1,000 shares of WesBanco stock at $25.00 per share, totaling $25,000, which significantly increased his ownership in the company.
• The company announced a quarterly dividend of $0.37 per share, yielding 4.7%, with an ex-dividend date set for September 5th.
• WesBanco's stock recently traded at $31.77, with a market cap of $3.05 billion, and its consensus rating has been upgraded to "Moderate Buy" with an average price target of $38.83.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) Director Louis Michael Altman purchased 1,000 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were purchased at an average price of $25.00 per share, with a total value of $25,000.00. Following the completion of the purchase, the director directly owned 1,000 shares of the company's stock, valued at $25,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

WesBanco Trading Down 1.3%

NASDAQ:WSBC traded down $0.43 on Monday, hitting $31.84. 255,396 shares of the stock were exchanged, compared to its average volume of 592,240. The stock has a market cap of $3.06 billion, a PE ratio of 19.15 and a beta of 0.85. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average of $31.65 and a 200-day moving average of $31.05. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.The business had revenue of $260.73 million during the quarter, compared to analyst estimates of $261.14 million. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, equities analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.48 annualized dividend and a dividend yield of 4.6%. WesBanco's dividend payout ratio (DPR) is 89.16%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank raised its position in shares of WesBanco by 58.8% during the 1st quarter. Swiss National Bank now owns 185,977 shares of the financial services provider's stock valued at $5,758,000 after acquiring an additional 68,832 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of WesBanco by 258.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock valued at $1,215,000 after buying an additional 28,302 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of WesBanco by 7.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider's stock valued at $8,009,000 after buying an additional 17,172 shares in the last quarter. LPL Financial LLC increased its position in shares of WesBanco by 44.9% in the 1st quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider's stock valued at $1,982,000 after buying an additional 19,836 shares in the last quarter. Finally, Keybank National Association OH bought a new stake in shares of WesBanco in the 1st quarter valued at $2,108,000. 61.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen raised WesBanco from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $38.83.

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.