WesBanco (NASDAQ:WSBC) Director Acquires $200,000.00 in Stock

Key Points

• Director Joseph Robinson purchased 8,000 shares of WesBanco stock at $25.00 each, totaling $200,000, significantly increasing his ownership in the company.
• WesBanco has declared a quarterly dividend of $0.37 per share, with an annualized yield of 4.6%, to be paid on October 1st.
• Analysts have upgraded WesBanco's stock rating from "hold" to "buy," with a consensus price target set at $38.83.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) Director Joseph R. Robinson purchased 8,000 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the director directly owned 8,000 shares in the company, valued at $200,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

WesBanco Trading Down 0.2%

Shares of NASDAQ WSBC traded down $0.05 during trading on Friday, hitting $32.27. 2,872,996 shares of the company traded hands, compared to its average volume of 401,270. The firm has a market capitalization of $3.10 billion, a P/E ratio of 19.44 and a beta of 0.85. 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 50-day moving average price of $31.65 and a 200-day moving average price of $31.07. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $260.73 million for the quarter, compared to the consensus estimate of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. During the same quarter last year, the firm posted $0.49 EPS. On average, equities analysts predict that WesBanco, Inc. will post 3.24 EPS for the current 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 paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.48 annualized dividend and a yield of 4.6%. WesBanco's payout ratio is 89.16%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of WesBanco from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. One investment 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.83.

Institutional Investors Weigh In On WesBanco

Institutional investors have recently modified their holdings of the business. Federated Hermes Inc. bought a new position in WesBanco in the first quarter worth about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of WesBanco in the 2nd quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its position in WesBanco by 132.5% during 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 period. Opal Wealth Advisors LLC bought a new stake in WesBanco in the first quarter valued at $34,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in shares of WesBanco during the first quarter valued at $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.