John Bookmyer Purchases 2,000 Shares of WesBanco (NASDAQ:WSBC) Stock

Key Points

• John Bookmyer, a director of WesBanco, bought 2,000 shares at $25.00 per share, totaling $50,000, increasing his ownership of the stock.
• WesBanco reported a quarterly earnings per share (EPS) of $0.91, exceeding analyst estimates by $0.04, with a market cap of $3.05 billion.
• The company has declared a quarterly dividend of $0.37, representing an annualized dividend of $1.48 with a yield of 4.7%, set to be paid on October 1st.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) Director John Bookmyer bought 2,000 shares of the company'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 $50,000.00. Following the completion of the transaction, the director owned 2,000 shares of the company's stock, valued at $50,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

WesBanco Trading Down 0.2%

Shares of WesBanco stock traded down $0.05 during trading on Friday, hitting $32.27. The stock had a trading volume of 2,872,996 shares, compared to its average volume of 401,270. The stock has a 50 day simple moving average of $31.65 and a 200 day simple moving average of $31.07. The company has a market capitalization of $3.10 billion, a PE ratio of 19.44 and a beta of 0.85. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.57. WesBanco, Inc. has a 1 year low of $26.42 and a 1 year high of $37.36.

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

WesBanco Announces Dividend

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

Hedge Funds Weigh In On WesBanco

Institutional investors have recently modified their holdings of the company. Swiss National Bank raised its position in shares of WesBanco by 58.8% in the first quarter. Swiss National Bank now owns 185,977 shares of the financial services provider's stock valued at $5,758,000 after purchasing an additional 68,832 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of WesBanco by 258.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock valued at $1,215,000 after purchasing an additional 28,302 shares during the period. Envestnet Asset Management Inc. raised its position in shares of 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 purchasing an additional 17,172 shares during the period. LPL Financial LLC raised its position in shares of WesBanco by 44.9% in the first quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider's stock valued at $1,982,000 after purchasing an additional 19,836 shares during the period. Finally, Keybank National Association OH bought a new position in shares of WesBanco in the first quarter valued at approximately $2,108,000. Institutional investors own 61.41% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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 assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, WesBanco has an average rating of "Moderate Buy" and an average target price 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.