WesBanco (NASDAQ:WSBC) Director Buys $100,800.00 in Stock

Key Points

• Director Lee Burdman bought 3,000 shares at $33.60 each (totaling $100,800), raising his stake to 46,772 shares — a 6.85% increase in ownership.
• WesBanco reported $0.91 EPS for the quarter (vs. $0.86 expected) while revenue fell 3.1% year-over-year to $257.2M, and the company offers a 4.5% dividend yield ($0.38 quarterly, 73.43% payout ratio).
• Analysts are largely positive, with a consensus Buy rating and an average price target of $39.60, though individual targets have been adjusted (e.g., Piper Sandler cut to $40).

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) Director Lee Burdman purchased 3,000 shares of WesBanco stock in a transaction dated Thursday, April 23rd. The stock was bought at an average price of $33.60 per share, with a total value of $100,800.00. Following the completion of the purchase, the director directly owned 46,772 shares of the company's stock, valued at approximately $1,571,539.20. This trade represents a 6.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

WesBanco Stock Performance

Shares of WSBC stock traded down $0.08 during trading hours on Friday, reaching $34.02. The company had a trading volume of 480,971 shares, compared to its average volume of 555,673. The business has a fifty day moving average price of $34.87 and a 200-day moving average price of $33.85. WesBanco, Inc. has a one year low of $28.74 and a one year high of $38.10. The firm has a market cap of $3.27 billion, a PE ratio of 10.97 and a beta of 0.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.92.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. WesBanco had a net margin of 21.12% and a return on equity of 9.83%. The firm had revenue of $257.23 million during the quarter, compared to analyst estimates of $264.52 million. During the same period in the previous year, the business posted $0.66 earnings per share. The business's revenue for the quarter was down 3.1% on a year-over-year basis. Sell-side analysts predict that WesBanco, Inc. will post 3.73 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th were paid a $0.38 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.5%. WesBanco's payout ratio is currently 73.43%.

Institutional Trading of WesBanco

Large investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in WesBanco by 12,500.0% during the fourth quarter. Covestor Ltd now owns 756 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 750 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in WesBanco by 255.1% during the third quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 574 shares in the last quarter. First Horizon Corp purchased a new position in WesBanco during the third quarter valued at approximately $27,000. Hilton Head Capital Partners LLC purchased a new position in WesBanco during the fourth quarter valued at approximately $29,000. Finally, True Wealth Design LLC lifted its holdings in WesBanco by 77.9% during the third quarter. True Wealth Design LLC now owns 877 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 384 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WSBC has been the subject of several recent research reports. Piper Sandler cut their target price on shares of WesBanco from $42.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday. Weiss Ratings upgraded shares of WesBanco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, March 12th. DA Davidson restated a "buy" rating and set a $41.00 target price on shares of WesBanco in a research report on Wednesday. Finally, Raymond James Financial restated a "strong-buy" rating and set a $41.00 target price on shares of WesBanco in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, WesBanco presently has a consensus rating of "Buy" and a consensus price target of $39.60.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.

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