WesBanco (NASDAQ:WSBC) Stock: Insider Scott Love Sells 3,000 Shares

Key Points

• WesBanco EVP Scott Love sold 3,000 shares for $120,360 at an average price of $40.12, reducing his direct holdings by 10.63% to 25,229 shares.
• In its latest quarter, WesBanco reported earnings of $0.89 per share, slightly above estimates, while revenue of $272.74 million fell short of consensus. The company pays an annualized dividend of $1.52, yielding about 4.0%.
• Shares traded down 0.6% to $38.43 in Friday’s mid-day trading. Analysts’ consensus rating is Hold, with an average price target of $43.60.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) EVP Scott Love sold 3,000 shares of the company's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $40.12, for a total value of $120,360.00. Following the completion of the transaction, the executive vice president directly owned 25,229 shares in the company, valued at approximately $1,012,187.48. This trade represents a 10.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

WesBanco Trading Down 0.6%

Shares of NASDAQ WSBC traded down $0.24 during mid-day trading on Friday, reaching $38.43. 127,263 shares of the company's stock were exchanged, compared to its average volume of 859,473. WesBanco, Inc. has a 52-week low of $29.75 and a 52-week high of $43.02. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 11.04 and a beta of 0.70. The company's 50-day moving average is $38.71 and its 200-day moving average is $37.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.96 and a current ratio of 0.96.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.01. WesBanco had a net margin of 23.70% and a return on equity of 9.58%. The business had revenue of $272.74 million for the quarter, compared to the consensus estimate of $274.88 million. Analysts expect that WesBanco, Inc. will post 3.57 EPS for the current fiscal year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a yield of 4.0%. WesBanco's payout ratio is presently 43.68%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WSBC. DA Davidson set a $46.00 price objective on WesBanco in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of WesBanco in a research report on Friday, October 30th. Raymond James Financial lowered shares of WesBanco from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 6th. Piper Sandler reduced their price target on shares of WesBanco from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 6th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $44.00 price objective on shares of WesBanco in a research note on Monday, September 14th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $43.60.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of WesBanco during the second quarter worth about $363,992,000. Dimensional Fund Advisors LP raised its stake in WesBanco by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 5,451,344 shares of the financial services provider's stock valued at $188,013,000 after buying an additional 59,077 shares in the last quarter. Bank of America Corp DE bought a new position in WesBanco during the 2nd quarter worth approximately $84,562,000. Bank of New York Mellon Corp bought a new position in WesBanco during the 2nd quarter worth approximately $36,433,000. Finally, Segall Bryant & Hamill LLC grew its position in shares of WesBanco by 0.7% in the 1st quarter. Segall Bryant & Hamill LLC now owns 928,768 shares of the financial services provider's stock worth $32,033,000 after acquiring an additional 6,784 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

About WesBanco

WesBanco, Inc NASDAQ: WSBC is a regional financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to individuals, families, businesses and institutions.

Its offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal and corporate credit services, mortgage banking and other traditional banking products.

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