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

Key Points

• WesBanco Director Todd Clossin purchased $200,000 worth of stock by acquiring 8,000 shares at an average price of $25.00 per share.
• The company announced a quarterly dividend of $0.37 per share, representing a 4.7% dividend yield, scheduled for payment on October 1st.
• After recent upgrades, analysts have rated WesBanco with an average rating of "Moderate Buy" and a target price of $38.83.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) Director Todd Clossin bought 8,000 shares of the stock in a transaction on Wednesday, September 17th. The stock was purchased at an average cost of $25.00 per share, with a total value of $200,000.00. Following the purchase, the director directly owned 8,000 shares of the company's stock, valued at approximately $200,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

WesBanco Stock Down 1.3%

WSBC traded down $0.43 during trading hours on Monday, hitting $31.84. 255,396 shares of the company's stock were exchanged, compared to its average volume of 592,240. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 19.15 and a beta of 0.85. The stock's 50-day moving average is $31.65 and its two-hundred 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 company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.57.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $261.14 million. During the same period in the prior year, the company posted $0.49 earnings per share. Sell-side analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of WesBanco

Large investors have recently made changes to their positions in the stock. Federated Hermes Inc. acquired a new stake in WesBanco in the 1st quarter valued at $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of WesBanco in the second quarter valued at about $26,000. Smartleaf Asset Management LLC increased its position in 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 acquiring an additional 510 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of WesBanco during the 1st quarter valued at approximately $34,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in WesBanco during the 1st quarter worth approximately $48,000. 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.