Insider Buying: WesBanco (NASDAQ:WSBC) Director Buys 1,000 Shares of 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 bought 1,000 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $25,000.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $25,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

WesBanco Stock Performance

Shares of NASDAQ:WSBC traded down $0.05 on Friday, reaching $32.27. 2,872,996 shares of the company's stock were exchanged, compared to its average volume of 401,270. The company has a fifty day moving average of $31.65 and a 200-day moving average of $31.06. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.36. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 19.44 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.

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

WesBanco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be given a dividend of $0.37 per share. The ex-dividend date 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 currently 89.16%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of WesBanco from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, WesBanco presently has a consensus rating of "Moderate Buy" and an average price target of $38.83.

Hedge Funds Weigh In On WesBanco

Several institutional investors and hedge funds have recently added to or reduced their stakes in WSBC. Federated Hermes Inc. bought a new position in WesBanco in the 1st quarter valued at approximately $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in WesBanco in the 2nd quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its stake in WesBanco by 132.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 510 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in WesBanco in the 1st quarter valued at approximately $34,000. Finally, Creative Financial Designs Inc. ADV bought a new position in WesBanco in the 1st quarter valued at approximately $48,000. Institutional investors own 61.41% of the company's stock.

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.