WesBanco (NASDAQ:WSBC) Shares Cross Above Fifty Day Moving Average After Insider Selling

Key Points

• WesBanco shares rose 2.2% and crossed above their 50-day moving average of $38.65, closing at $39.45.
• Analysts have a consensus “Hold” rating and an average price target of $43.60, with two Buy and five Hold ratings reported.
• Quarterly earnings were $0.89 per share, slightly above estimates, while revenue of $272.74 million fell short; the annualized dividend is $1.52 per share, a yield of about 3.9%.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report)'s share price crossed above its 50 day moving average during trading on Monday following insider buying activity. The stock has a 50 day moving average of $38.65 and traded as high as $39.68. WesBanco shares last traded at $39.45, with a volume of 535,544 shares.

Wall Street Analyst Weigh In

WSBC has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of WesBanco in a report on Friday, October 30th. Royal Bank Of Canada restated a "sector perform" rating and issued a $44.00 price objective on shares of WesBanco in a research note on Monday, September 14th. Wall Street Zen lowered shares of WesBanco from a "hold" rating to a "sell" rating in a research report on Saturday, October 17th. Keefe, Bruyette & Woods lowered shares of WesBanco from an "outperform" rating to a "market perform" rating and set a $42.00 price objective for the company. in a research report on Thursday, July 23rd. Finally, Raymond James Financial cut shares of WesBanco from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $43.60.

WesBanco Trading Up 2.2%

The business has a 50-day moving average price of $38.65 and a 200-day moving average price of $37.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $3.79 billion, a P/E ratio of 11.34 and a beta of 0.70.

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

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 4th were paid a $0.38 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.9%. WesBanco's dividend payout ratio is currently 43.68%.

Hedge Funds Weigh In On WesBanco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC bought a new stake in WesBanco in the third quarter valued at about $29,000. Nykredit A S bought a new position in WesBanco during the second quarter worth about $40,000. Public Employees Retirement System of Ohio bought a new position in WesBanco during the second quarter worth about $57,000. Fulcrum Asset Management LLP bought a new position in WesBanco during the third quarter worth about $82,000. Finally, GAMMA Investing LLC boosted its holdings in WesBanco by 39.0% during the third quarter. GAMMA Investing LLC now owns 2,546 shares of the financial services provider's stock valued at $95,000 after purchasing an additional 714 shares in the last quarter. 61.41% of the stock is owned by institutional investors.

WesBanco Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.