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 that occurred on Wednesday, September 17th. The shares were purchased at an average price 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 in the company, valued at $100,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

WesBanco Price Performance

WesBanco stock traded down $0.22 during mid-day trading on Monday, reaching $32.05. The company had a trading volume of 845,359 shares, compared to its average volume of 595,735. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. The company has a market cap of $3.08 billion, a P/E ratio of 19.31 and a beta of 0.85. The business has a fifty day simple moving average of $31.65 and a 200 day simple moving average of $31.05.

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

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a $0.37 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.48 dividend on an annualized basis and a yield of 4.6%. WesBanco's dividend payout ratio (DPR) is currently 89.16%.

Hedge Funds Weigh In On WesBanco

Several large investors have recently modified their holdings of the business. Federated Hermes Inc. bought a new position in WesBanco during the first quarter worth $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in WesBanco during the second quarter worth $26,000. Smartleaf Asset Management LLC raised its stake in WesBanco by 132.5% during the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock worth $28,000 after buying an additional 510 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in WesBanco during the first quarter worth $34,000. Finally, Creative Financial Designs Inc. ADV bought a new position in WesBanco during the first quarter worth $48,000. Institutional investors own 61.41% of the company's stock.

Analyst Upgrades and Downgrades

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

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.