WesBanco (NASDAQ:WSBC) EVP Robert H. Friend Purchases 800 Shares

Key Points

• WesBanco EVP Robert Friend acquired 800 shares of the company's stock at $25.00 per share, totaling $20,000, boosting his holdings to 800 shares valued at $20,000.
• The company recently reported a quarterly EPS of $0.91, surpassing analysts' expectations of $0.87, while also announcing a quarterly dividend of $0.37 with a yield of 4.7%.
• WesBanco has received an upgraded rating from "hold" to "buy" from Wall Street Zen, with an average target price of $38.83 according to market consensus.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) EVP Robert H. Friend bought 800 shares of the stock in a transaction dated Wednesday, September 17th. The stock was purchased at an average cost of $25.00 per share, with a total value of $20,000.00. Following the completion of the purchase, the executive vice president directly owned 800 shares in the company, valued at approximately $20,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

WesBanco Trading Down 0.2%

Shares of NASDAQ WSBC traded down $0.05 during midday trading on Friday, hitting $32.27. The stock had a trading volume of 2,872,996 shares, compared to its average volume of 401,270. The company's 50-day simple moving average is $31.65 and its 200 day simple moving average is $31.06. The firm has a market cap of $3.10 billion, a P/E ratio of 19.44 and a beta of 0.85. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, topping 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 analysts' expectations of $261.14 million. During the same period in the previous year, the firm earned $0.49 earnings per share. Research analysts anticipate that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded WesBanco from a "hold" rating to a "buy" rating in a report 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.83.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Swiss National Bank lifted its stake in shares of WesBanco by 58.8% in 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. raised its position in WesBanco by 258.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock worth $1,215,000 after purchasing an additional 28,302 shares during the last quarter. Envestnet Asset Management Inc. raised its position in WesBanco by 7.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider's stock worth $8,009,000 after purchasing an additional 17,172 shares during the last quarter. LPL Financial LLC raised its position in WesBanco by 44.9% during the 1st quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider's stock worth $1,982,000 after purchasing an additional 19,836 shares during the last quarter. Finally, Keybank National Association OH bought a new position in WesBanco during the 1st quarter worth $2,108,000. 61.41% of the stock is currently owned by institutional investors.

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.