WesBanco (NASDAQ:WSBC) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• WesBanco shares moved above their 200-day moving average, reaching $38.02 before last trading at $37.42. Analysts have a “Moderate Buy” consensus rating and an average price target of $43.20.
• The company exceeded quarterly expectations, reporting $0.92 in earnings per share versus the $0.85 consensus estimate and revenue of $275.79 million. Analysts project full-year earnings of $3.58 per share.
• WesBanco announced a quarterly dividend of $0.38 per share, equivalent to an annualized $1.52 payout and a 4.1% yield; however, insiders sold 35,195 shares worth approximately $1.47 million over the past 90 days.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $37.48 and traded as high as $38.02. WesBanco shares last traded at $37.42, with a volume of 991,658 shares trading hands.

Analysts Set New Price Targets

WSBC has been the subject of several analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of WesBanco in a report on Monday, August 3rd. DA Davidson set a $46.00 price target on shares of WesBanco in a report on Thursday, July 23rd. Piper Sandler increased their price objective on shares of WesBanco from $40.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Zacks Research raised shares of WesBanco from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Finally, Wall Street Zen upgraded WesBanco from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.20.

WesBanco Stock Performance

The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $40.61 and a two-hundred day simple moving average of $37.48. The firm has a market cap of $3.59 billion, a PE ratio of 10.88 and a beta of 0.66.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.07. The business had revenue of $275.79 million during the quarter, compared to the consensus estimate of $267.71 million. WesBanco had a return on equity of 9.72% and a net margin of 23.35%. As a group, equities research analysts forecast that WesBanco, Inc. will post 3.58 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a yield of 4.1%. WesBanco's dividend payout ratio (DPR) is presently 44.19%.

Insider Buying and Selling

In other WesBanco news, EVP Jan Pattishall-Krupinski sold 2,250 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $41.45, for a total value of $93,262.50. Following the completion of the sale, the executive vice president directly owned 33,674 shares of the company's stock, valued at $1,395,787.30. The trade was a 6.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Friend sold 2,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $42.06, for a total transaction of $84,120.00. Following the completion of the transaction, the executive vice president owned 17,361 shares in the company, valued at $730,203.66. This represents a 10.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 35,195 shares of company stock worth $1,465,800 over the last 90 days. Corporate insiders own 2.07% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC purchased a new position in WesBanco during the 2nd quarter worth $621,000. Integrated Wealth Concepts LLC bought a new stake in WesBanco during the 2nd quarter valued at $177,000. Allworth Financial LP lifted its holdings in shares of WesBanco by 40.1% in the 2nd quarter. Allworth Financial LP now owns 6,280 shares of the financial services provider's stock worth $245,000 after buying an additional 1,799 shares during the period. Waverly Advisors LLC lifted its holdings in shares of WesBanco by 21.7% in the 2nd quarter. Waverly Advisors LLC now owns 8,296 shares of the financial services provider's stock worth $324,000 after buying an additional 1,480 shares during the period. Finally, Nykredit A S bought a new position in shares of WesBanco during the 2nd quarter worth $40,000. Institutional investors own 61.41% of the company's stock.

WesBanco Company Profile

WesBanco, Inc is a financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to consumers, businesses, and organizations.

WesBanco's offerings include checking and savings accounts, consumer and residential real estate loans, commercial lending, credit cards, online and mobile banking, and other deposit and treasury management services. The company also provides trust, investment management, brokerage, and insurance services through affiliated businesses and financial professionals.

Founded in 1870, WesBanco has developed a regional banking presence serving communities in West Virginia, Ohio, Pennsylvania, Kentucky, and Indiana.

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