WesBanco, Inc. (NASDAQ:WSBC) Sees Significant Growth in Short Interest

Key Points

• WesBanco, Inc. experienced a 106.7% increase in short interest in September, with a total of 2,790,000 shorted shares, representing 3.0% of its stock.
• The company reported earnings of $0.91 per share for the last quarter, which beat consensus estimates, and it has announced a quarterly dividend yielding 4.8%.
• Several institutional investors have increased their stakes in WesBanco, with 61.41% of the stock currently owned by institutions, reflecting growing confidence in the company's performance.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 2,790,000 shares, an increase of 106.7% from the September 15th total of 1,350,000 shares. Currently, 3.0% of the company's stock are short sold. Based on an average daily volume of 584,800 shares, the short-interest ratio is presently 4.8 days. Based on an average daily volume of 584,800 shares, the short-interest ratio is presently 4.8 days. Currently, 3.0% of the company's stock are short sold.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $30.71 on Monday. WesBanco has a twelve month low of $26.42 and a twelve month high of $37.36. The business's 50 day moving average price is $32.05 and its two-hundred day moving average price is $31.19. 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 market cap of $2.95 billion, a PE ratio of 18.50 and a beta of 0.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.The company had revenue of $260.73 million for the quarter, compared to the consensus estimate of $261.14 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, analysts predict that WesBanco will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.48 annualized dividend and a dividend yield of 4.8%. WesBanco's dividend payout ratio is presently 89.16%.

Insider Buying and Selling

In related news, Director Joseph R. Robinson bought 8,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were acquired at an average price of $25.00 per share, with a total value of $200,000.00. Following the completion of the transaction, the director 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 can be accessed through the SEC website. Also, CFO K Weiss Daniel bought 4,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the transaction, the chief financial officer owned 4,000 shares of the company's stock, valued at $100,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 49,600 shares of company stock valued at $1,240,000. Corporate insiders own 2.80% of the company's stock.

Institutional Investors Weigh In On WesBanco

Several institutional investors have recently made changes to their positions in WSBC. Wealth Enhancement Advisory Services LLC boosted its stake in shares of WesBanco by 52.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,566 shares of the financial services provider's stock valued at $358,000 after buying an additional 3,958 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of WesBanco by 25.4% in the first quarter. Janney Montgomery Scott LLC now owns 14,743 shares of the financial services provider's stock valued at $456,000 after buying an additional 2,983 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of WesBanco by 258.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock valued at $1,215,000 after buying an additional 28,302 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of WesBanco by 4.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 62,789 shares of the financial services provider's stock valued at $1,944,000 after buying an additional 2,393 shares during the period. Finally, Spire Wealth Management boosted its stake in shares of WesBanco by 34,162.5% in the first quarter. Spire Wealth Management now owns 13,705 shares of the financial services provider's stock valued at $424,000 after buying an additional 13,665 shares during the period. 61.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WSBC. Royal Bank Of Canada lifted their target price on WesBanco from $34.00 to $36.00 and gave the company a "sector perform" rating in a research report on Friday, October 10th. Wall Street Zen downgraded WesBanco from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of WesBanco in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $39.17.

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.

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