WesBanco, Inc. (NASDAQ:WSBC) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 876,600 shares, an increase of 24.8% from the November 30th total of 702,600 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 268,700 shares, the short-interest ratio is presently 3.3 days.
Several equities research analysts recently commented on WSBC shares. Boenning Scattergood reissued a "neutral" rating on shares of WesBanco in a report on Wednesday, September 29th. Royal Bank of Canada boosted their target price on WesBanco from $36.00 to $38.00 and gave the stock a "sector perform" rating in a report on Wednesday, September 29th. Finally, Zacks Investment Research raised WesBanco from a "hold" rating to a "buy" rating and set a $39.00 target price on the stock in a report on Tuesday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, WesBanco presently has a consensus rating of "Hold" and a consensus target price of $37.25.
WesBanco stock opened at $37.62 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 10.90 and a beta of 1.03. WesBanco has a 1 year low of $28.65 and a 1 year high of $39.87. The firm's 50 day moving average price is $34.77 and its two-hundred day moving average price is $34.35.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, October 26th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.77 by ($0.07). The business had revenue of $148.03 million during the quarter, compared to analyst estimates of $146.23 million. WesBanco had a return on equity of 9.23% and a net margin of 37.95%. The company's quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. As a group, equities analysts predict that WesBanco will post 3.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Friday, December 10th were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, December 9th. This represents a $1.32 annualized dividend and a yield of 3.51%. WesBanco's dividend payout ratio (DPR) is 38.26%.
In other WesBanco news, Director Stephen J. Callen purchased 5,000 shares of the business's stock in a transaction dated Monday, December 20th. The shares were bought at an average price of $32.72 per share, with a total value of $163,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James W. Cornelsen sold 30,907 shares of WesBanco stock in a transaction that occurred on Tuesday, November 23rd. The shares were sold at an average price of $35.56, for a total value of $1,099,052.92. The disclosure for this sale can be found here. Insiders own 3.13% of the company's stock.
Institutional investors have recently bought and sold shares of the business. Strs Ohio grew its position in WesBanco by 6.1% in the third quarter. Strs Ohio now owns 36,300 shares of the financial services provider's stock worth $1,237,000 after buying an additional 2,100 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in WesBanco by 39.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,897 shares of the financial services provider's stock worth $281,000 after purchasing an additional 2,237 shares in the last quarter. Legal & General Group Plc grew its position in WesBanco by 4.8% during the 2nd quarter. Legal & General Group Plc now owns 48,271 shares of the financial services provider's stock worth $1,719,000 after purchasing an additional 2,221 shares in the last quarter. Dupont Capital Management Corp grew its position in WesBanco by 18.7% during the 3rd quarter. Dupont Capital Management Corp now owns 31,590 shares of the financial services provider's stock worth $1,077,000 after purchasing an additional 4,977 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in WesBanco by 197.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,693 shares of the financial services provider's stock worth $773,000 after purchasing an additional 14,401 shares in the last quarter. Hedge funds and other institutional investors own 62.19% of the company's stock.
WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.
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