WesBanco (NASDAQ:WSBC) Director Joseph Robinson Buys 1,000 Shares

Key Points

• Insider purchase: WesBanco director Joseph Robinson bought 1,000 shares on April 27 at an average price of $34.54, raising his stake to 19,068 shares (a 5.53% increase) and the transaction was filed with the SEC.
• WesBanco beat EPS estimates (reported $0.91 vs. $0.86) while revenue fell 3.1% year-over-year; the stock trades around $34.80 and pays a 4.4% annualized dividend ($1.52 per share).
• Analyst sentiment: The consensus rating is "Buy" with a $39.60 average price target and several firms issuing $40–$41 targets.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) Director Joseph Robinson bought 1,000 shares of the stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $34.54 per share, with a total value of $34,540.00. Following the acquisition, the director owned 19,068 shares in the company, valued at approximately $658,608.72. This represents a 5.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

WesBanco Stock Up 0.6%

NASDAQ:WSBC traded up $0.22 during midday trading on Tuesday, hitting $34.80. 133,728 shares of the company were exchanged, compared to its average volume of 557,013. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. WesBanco, Inc. has a fifty-two week low of $28.74 and a fifty-two week high of $38.10. The company has a market capitalization of $3.34 billion, a PE ratio of 11.23 and a beta of 0.74. The company has a fifty day simple moving average of $34.78 and a 200 day simple moving average of $33.86.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its 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. The business had revenue of $257.23 million for the quarter, compared to analysts' expectations of $264.52 million. WesBanco had a return on equity of 9.83% and a net margin of 21.12%.The business's revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, equities analysts anticipate that WesBanco, Inc. will post 3.61 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 6th were given a $0.38 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.52 annualized dividend and a yield of 4.4%. WesBanco's dividend payout ratio is 49.03%.

Analysts Set New Price Targets

WSBC has been the topic of a number of recent research reports. DA Davidson restated a "buy" rating and issued a $41.00 price objective on shares of WesBanco in a research note on Wednesday, April 22nd. Piper Sandler lowered their price target on WesBanco from $42.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Raymond James Financial restated a "strong-buy" rating and issued a $41.00 price target on shares of WesBanco in a research report on Thursday, March 12th. Finally, Weiss Ratings raised WesBanco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $39.60.

Hedge Funds Weigh In On WesBanco

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bayview Asset Management LLC boosted its stake in shares of WesBanco by 0.4% during the fourth quarter. Bayview Asset Management LLC now owns 80,300 shares of the financial services provider's stock valued at $2,669,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC raised its stake in WesBanco by 41.1% in the 4th quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 324 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in WesBanco by 0.7% in the 4th quarter. Corient Private Wealth LLC now owns 50,414 shares of the financial services provider's stock valued at $1,677,000 after purchasing an additional 357 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of WesBanco by 77.9% during the 3rd quarter. True Wealth Design LLC now owns 877 shares of the financial services provider's stock worth $28,000 after purchasing an additional 384 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of WesBanco by 1.6% during the 3rd quarter. IFP Advisors Inc now owns 24,864 shares of the financial services provider's stock worth $794,000 after purchasing an additional 385 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company's stock.

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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