Insider Buying: WesBanco (NASDAQ:WSBC) CEO Acquires 4,000 Shares of Stock

Key Points

• Jeffrey Jackson, CEO of WesBanco, purchased 4,000 shares of the company's stock at an average price of $25.00 each, totaling $100,000, which reflects a significant increase in his ownership position.
• WesBanco recently announced a quarterly dividend of $0.37 per share, translating to a 4.6% yield, with payments set for October 1st.
• WesBanco's stock received a ratings upgrade from "hold" to "buy" by Wall Street Zen, with analysts giving it an average price target of $38.83.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) CEO Jeffrey H. Jackson purchased 4,000 shares of WesBanco stock in a transaction dated Wednesday, September 17th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the transaction, the chief executive officer directly owned 4,000 shares of the company's stock, valued at approximately $100,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

WesBanco Stock Down 0.2%

WesBanco stock traded down $0.05 during midday trading on Friday, hitting $32.27. The stock had a trading volume of 2,872,996 shares, compared to its average volume of 517,486. The business has a fifty day moving average price of $31.65 and a 200 day moving average price of $31.05. WesBanco, Inc. has a 12 month low of $26.42 and a 12 month high of $37.36. The stock has a market cap of $3.10 billion, a P/E ratio of 19.44 and a beta of 0.85. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $260.73 million for the quarter, compared to analysts' expectations of $261.14 million. During the same period last year, the business posted $0.49 earnings per share. Research analysts predict that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, September 5th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. WesBanco's payout ratio is currently 89.16%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of WesBanco from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, WesBanco currently has an average rating of "Moderate Buy" and an average price target of $38.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WSBC. Swiss National Bank boosted its position in WesBanco by 58.8% during the first quarter. Swiss National Bank now owns 185,977 shares of the financial services provider's stock worth $5,758,000 after purchasing an additional 68,832 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position 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 worth $1,215,000 after acquiring an additional 28,302 shares in the last quarter. Envestnet Asset Management Inc. grew its position in WesBanco by 7.1% in the first quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider's stock valued at $8,009,000 after acquiring an additional 17,172 shares during the last quarter. LPL Financial LLC lifted its stake in shares of WesBanco by 44.9% in the 1st quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider's stock valued at $1,982,000 after acquiring an additional 19,836 shares during the last quarter. Finally, Keybank National Association OH acquired a new position in shares of WesBanco in the first quarter valued at approximately $2,108,000. 61.41% of the stock is owned by institutional investors and hedge funds.

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.