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

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 recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 1,910,000 shares, agrowthof191.4% from the June 30th total of 655,500 shares. Based on an average daily volume of 538,600 shares, the short-interest ratio is currently 3.5 days. Approximately2.0% of the company's shares are short sold. Approximately2.0% of the company's shares are short sold. Based on an average daily volume of 538,600 shares, the short-interest ratio is currently 3.5 days.

Institutional Investors Weigh In On WesBanco

Large investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of WesBanco by 258.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock valued at $1,215,000 after purchasing an additional 28,302 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of WesBanco by 7.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider's stock valued at $8,009,000 after purchasing an additional 17,172 shares during the period. Keybank National Association OH bought a new stake in shares of WesBanco during the 1st quarter valued at about $2,108,000. Nuveen Asset Management LLC grew its stake in shares of WesBanco by 13.4% during the 4th quarter. Nuveen Asset Management LLC now owns 492,167 shares of the financial services provider's stock valued at $16,015,000 after acquiring an additional 58,214 shares during the period. Finally, Principal Financial Group Inc. bought a new position in shares of WesBanco during the 1st quarter valued at approximately $1,123,000. 61.41% of the stock is currently owned by institutional investors.

WesBanco Stock Performance

NASDAQ WSBC traded down $0.06 during trading hours on Tuesday, hitting $29.76. The company's stock had a trading volume of 502,420 shares, compared to its average volume of 646,259. WesBanco has a 12 month low of $26.42 and a 12 month high of $37.36. The company's 50 day simple moving average is $31.63 and its two-hundred day simple moving average is $31.85. The company has a market cap of $2.85 billion, a P/E ratio of 17.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.91.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. WesBanco had a return on equity of 7.72% and a net margin of 11.65%. The company had revenue of $260.73 million during the quarter, compared to the consensus estimate of $261.14 million. During the same period last year, the company earned $0.49 EPS. As a group, sell-side analysts expect that WesBanco will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank Of Canada lowered their price target 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. Keefe, Bruyette & Woods decreased their target price on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, WesBanco has a consensus rating of "Moderate Buy" and an average target price of $38.83.

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.