WesBanco (NASDAQ:WSBC) Director Buys $200,000.00 in Stock

Key Points

• WesBanco Director F Eric Nelson Jr purchased 8,000 shares of the company's stock for $200,000 at an average price of $25.00 per share, significantly increasing his ownership.
• The stock price of WesBanco rose by 3.8%, reaching $32.32, with trading volume surpassing its average.
• WesBanco announced a quarterly dividend of $0.37 per share, reflecting an annualized dividend of $1.48 and a yield of 4.6%.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) Director F Eric Nelson, Jr. acquired 8,000 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the acquisition, the director directly owned 8,000 shares of the company's stock, valued at approximately $200,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

WesBanco Stock Performance

Shares of WSBC stock traded down $0.22 during mid-day trading on Monday, reaching $32.05. The stock had a trading volume of 845,359 shares, compared to its average volume of 517,486. 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 business's fifty day moving average is $31.65 and its 200-day 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 cap of $3.08 billion, a price-to-earnings ratio of 11.36 and a beta of 0.85.

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 (EPS) for the quarter, topping 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 firm had revenue of $260.73 million during the quarter, compared to analysts' expectations of $261.14 million. During the same quarter last year, the company posted $0.49 earnings per share. On average, research analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in WesBanco by 1.4% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 29,697 shares of the financial services provider's stock valued at $939,000 after buying an additional 400 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in shares of WesBanco by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 30,888 shares of the financial services provider's stock worth $977,000 after purchasing an additional 495 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of WesBanco by 34.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,932 shares of the financial services provider's stock worth $61,000 after purchasing an additional 500 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of 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 purchasing an additional 510 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of WesBanco by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 14,502 shares of the financial services provider's stock worth $459,000 after purchasing an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

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.