WesBanco Inc (NASDAQ:WSBC) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 819,200 shares, a drop of 22.7% from the September 15th total of 1,060,000 shares. Based on an average trading volume of 251,900 shares, the short-interest ratio is currently 3.3 days.
WSBC has been the subject of a number of analyst reports. ValuEngine raised shares of WesBanco from a "sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Raymond James reaffirmed a "buy" rating on shares of WesBanco in a research report on Friday, August 28th. Boenning Scattergood initiated coverage on shares of WesBanco in a research report on Thursday, September 24th. They issued an "outperform" rating for the company. BidaskClub raised shares of WesBanco from a "hold" rating to a "buy" rating in a research report on Wednesday, October 7th. Finally, Zacks Investment Research downgraded shares of WesBanco from a "hold" rating to a "sell" rating in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of "Hold" and an average target price of $30.00.
Shares of WSBC opened at $23.64 on Friday. The firm has a 50-day moving average of $22.44 and a 200-day moving average of $21.74. WesBanco has a one year low of $17.46 and a one year high of $39.33. The company has a market cap of $1.59 billion, a PE ratio of 13.91 and a beta of 1.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.95 and a quick ratio of 0.94.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.28). The firm had revenue of $151.87 million during the quarter, compared to the consensus estimate of $146.49 million. WesBanco had a net margin of 15.84% and a return on equity of 4.73%. Analysts expect that WesBanco will post 1.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Thursday, September 10th. WesBanco's dividend payout ratio is presently 41.83%.
In related news, CFO Robert H. Young acquired 1,200 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $30,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,200 shares in the company, valued at approximately $30,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Clossin acquired 4,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were bought at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the chief executive officer now owns 4,000 shares of the company's stock, valued at $100,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 7,080 shares of company stock worth $175,000. 3.05% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of WSBC. JPMorgan Chase & Co. lifted its stake in shares of WesBanco by 15.1% during the 1st quarter. JPMorgan Chase & Co. now owns 44,390 shares of the financial services provider's stock worth $1,053,000 after buying an additional 5,837 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of WesBanco by 114.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 114,976 shares of the financial services provider's stock worth $2,725,000 after buying an additional 61,311 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of WesBanco by 21.3% during the 1st quarter. Nuveen Asset Management LLC now owns 331,008 shares of the financial services provider's stock worth $7,845,000 after buying an additional 58,050 shares during the last quarter. M&T Bank Corp lifted its stake in shares of WesBanco by 40.4% during the 1st quarter. M&T Bank Corp now owns 12,217 shares of the financial services provider's stock worth $289,000 after buying an additional 3,517 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of WesBanco by 7.3% during the 1st quarter. Geode Capital Management LLC now owns 1,017,286 shares of the financial services provider's stock worth $24,109,000 after buying an additional 69,214 shares during the last quarter. Institutional investors own 57.15% of the company's stock.
WesBanco Company Profile
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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