WesBanco, Inc. (NASDAQ:WSBC) Short Interest Up 191.4% in July

Key Points

• WesBanco's short interest soared by 191.4% in July, with 1,910,000 shares short sold as of July 15th, indicating increased bearish sentiment among investors.
• The company reported earnings of $0.91 per share in its latest quarter, surpassing analysts' expectations of $0.87, and also announced a quarterly dividend of $0.37, yielding 5.0% annually.
• Analysts currently have a "Moderate Buy" rating for WesBanco, with an average price target of $38.83, although some firms have lowered their price objectives for the stock.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 1,910,000 shares, anincreaseof191.4% from the June 30th total of 655,500 shares. Based on an average trading volume of 538,600 shares, the days-to-cover ratio is presently 3.5 days. Currently,2.0% of the company's stock are sold short. Currently,2.0% of the company's stock are sold short. Based on an average trading volume of 538,600 shares, the days-to-cover ratio is presently 3.5 days.

Institutional Trading of WesBanco

Several hedge funds have recently modified their holdings of WSBC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of WesBanco during the second quarter worth $26,000. Federated Hermes Inc. bought a new stake in WesBanco in the 1st quarter valued at about $26,000. Smartleaf Asset Management LLC boosted its holdings in WesBanco by 132.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 510 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of WesBanco in the 1st quarter valued at approximately $34,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in WesBanco during the 1st quarter worth approximately $48,000. 61.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods dropped their target price on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Royal Bank Of Canada reduced their price objective on WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, WesBanco presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

WesBanco Stock Performance

WesBanco stock traded down $0.27 on Thursday, reaching $29.42. 135,418 shares of the stock were exchanged, compared to its average volume of 606,480. The stock has a market cap of $2.81 billion, a PE ratio of 17.72 and a beta of 0.87. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50. WesBanco has a twelve month low of $26.42 and a twelve month high of $37.36. The firm has a fifty day moving average price of $31.57 and a two-hundred day moving average price of $31.82.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $260.73 million during the quarter, compared to analyst estimates of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.72%. During the same quarter in the prior year, the business earned $0.49 earnings per share. Sell-side analysts anticipate that WesBanco will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, June 6th. WesBanco's dividend payout ratio is 89.16%.

About WesBanco

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.