WesBanco (NASDAQ:WSBC) Director Rosie Allen-Herring Purchases 800 Shares

Key Points

• WesBanco Director Rosie Allen-Herring purchased 800 shares at an average price of $25.00 per share, totalling $20,000, increasing her ownership significantly.
• The company recently announced a quarterly dividend of $0.37 per share, reflecting an annualized yield of 4.7%.
• WesBanco's stock received a rating upgrade from a "hold" to a "buy," with a consensus price target set at $38.83.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) Director Rosie Allen-Herring bought 800 shares of the stock in a transaction dated Wednesday, September 17th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $20,000.00. Following the completion of the acquisition, the director directly owned 800 shares of the company's stock, valued at approximately $20,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

WesBanco Price Performance

WesBanco stock traded down $0.43 during mid-day trading on Monday, reaching $31.84. The company had a trading volume of 255,396 shares, compared to its average volume of 592,240. WesBanco, Inc. has a fifty-two week low of $26.42 and a fifty-two week high of $37.36. 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 company has a market cap of $3.06 billion, a P/E ratio of 19.15 and a beta of 0.85. The business has a fifty day simple moving average of $31.65 and a 200 day simple moving average of $31.05.

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 (EPS) for the quarter, beating 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 business had revenue of $260.73 million for the quarter, compared to analyst estimates of $261.14 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. On average, equities research analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

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

Analyst Ratings Changes

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 equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.83.

Institutional Investors Weigh In On WesBanco

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in WesBanco by 40.3% during the 1st quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider's stock worth $291,427,000 after purchasing an additional 2,702,469 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in WesBanco by 42.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider's stock worth $179,358,000 after purchasing an additional 1,730,801 shares during the last quarter. State Street Corp boosted its stake in WesBanco by 0.4% during the 2nd quarter. State Street Corp now owns 3,663,315 shares of the financial services provider's stock worth $117,109,000 after purchasing an additional 14,147 shares during the last quarter. Wellington Management Group LLP boosted its stake in WesBanco by 35.2% during the 1st quarter. Wellington Management Group LLP now owns 2,456,454 shares of the financial services provider's stock worth $76,052,000 after purchasing an additional 640,003 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of WesBanco by 7.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,389,477 shares of the financial services provider's stock valued at $75,588,000 after acquiring an additional 172,276 shares during the last quarter. Institutional investors and hedge funds 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.