WesBanco (NASDAQ:WSBC) CFO Purchases $100,000.00 in Stock

Key Points

• WesBanco CFO K Weiss Daniel purchased 4,000 shares of stock for $100,000, indicating strong insider confidence in the company.
• The company reported $0.91 earnings per share in its last quarterly earnings, exceeding analysts' expectations of $0.87.
• A quarterly dividend of $0.37 per share will be paid on October 1st, reflecting a 4.6% yield based on the annualized dividend.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) CFO K Weiss Daniel purchased 4,000 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was purchased at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the purchase, the chief financial officer directly owned 4,000 shares of the company's stock, valued at $100,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

WesBanco Stock Performance

Shares of NASDAQ:WSBC traded down $0.22 during trading hours on Monday, hitting $32.05. The stock had a trading volume of 845,359 shares, compared to its average volume of 517,486. The stock's fifty day simple moving average is $31.65 and its 200 day simple moving average is $31.05. WesBanco, Inc. has a 1-year low of $26.42 and a 1-year high of $37.36. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 11.36 and a beta of 0.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly 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 net margin of 11.65% and a return on equity of 7.29%. The company 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 earned $0.49 earnings per share. Sell-side analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

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

Hedge Funds Weigh In On WesBanco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WSBC. Vanguard Group Inc. boosted its stake in WesBanco by 40.3% in the 1st quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider's stock worth $291,427,000 after purchasing an additional 2,702,469 shares during the period. Dimensional Fund Advisors LP boosted its stake in WesBanco by 42.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider's stock worth $179,358,000 after purchasing an additional 1,730,801 shares during the period. First Trust Advisors LP boosted its stake in WesBanco by 949.3% in the 2nd quarter. First Trust Advisors LP now owns 1,281,260 shares of the financial services provider's stock worth $40,526,000 after purchasing an additional 1,159,158 shares during the period. Goldman Sachs Group Inc. lifted its position in WesBanco by 179.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider's stock worth $47,779,000 after buying an additional 991,584 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in WesBanco in the 2nd quarter worth approximately $29,869,000. Institutional investors and hedge funds own 61.41% of the company's stock.

Analysts Set New Price Targets

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 issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, WesBanco has a consensus rating of "Moderate Buy" and a consensus price target 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.