WesBanco (NASDAQ:WSBC) Director Louis Michael Altman Acquires 1,000 Shares

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 business's stock in a transaction dated Wednesday, September 17th. The shares were purchased at an average cost of $25.00 per share, with a total value of $25,000.00. Following the completion of the acquisition, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

WesBanco Stock Performance

Shares of NASDAQ:WSBC traded down $0.05 during trading on Friday, hitting $32.27. 2,872,996 shares of the stock traded hands, compared to its average volume of 401,270. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.57. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 19.44 and a beta of 0.85. The company has a fifty day moving average price of $31.65 and a two-hundred day moving average price of $31.06. WesBanco, Inc. has a 52-week low of $26.42 and a 52-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 for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $260.73 million during 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 period in the previous year, the firm earned $0.49 EPS. As a group, equities analysts predict that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

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. This represents a $1.48 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, September 5th. WesBanco's payout ratio is presently 89.16%.

Institutional Trading of WesBanco

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Investors Asset Management of Georgia Inc. GA ADV increased its stake in WesBanco by 1.4% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 29,697 shares of the financial services provider's stock worth $939,000 after purchasing an additional 400 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of WesBanco by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 30,888 shares of the financial services provider's stock worth $977,000 after buying an additional 495 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of WesBanco by 34.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,932 shares of the financial services provider's stock worth $61,000 after buying an additional 500 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of WesBanco by 132.5% during the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock worth $28,000 after buying an additional 510 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of WesBanco by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 14,502 shares of the financial services provider's stock worth $459,000 after buying an additional 561 shares during the period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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