WesBanco (NASDAQ:WSBC) EVP Purchases $25,000.00 in Stock

Key Points

• WesBanco EVP Scott Love acquired 1,000 shares of stock worth $25,000, increasing his holdings in the company significantly.
• WesBanco's stock rose 3.1% to $32.10, and the company reported earnings of $0.91 per share, surpassing analysts' expectations.
• The company has announced a quarterly dividend of $0.37, resulting in an annualized dividend of $1.48 and a yield of 4.6%.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) EVP Scott A. Love bought 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $25,000.00. Following the acquisition, the executive vice president directly owned 1,000 shares in the company, valued at $25,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

WesBanco Price Performance

WesBanco stock traded down $0.22 during midday trading on Monday, reaching $32.05. 845,359 shares of the stock were exchanged, compared to its average volume of 595,735. The company's fifty day moving average is $31.65 and its 200-day moving average is $31.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market cap of $3.08 billion, a PE ratio of 19.31 and a beta of 0.85. WesBanco, Inc. has a 52 week low of $26.42 and a 52 week high of $37.36.

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

WesBanco Dividend Announcement

The business also recently disclosed 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 is Friday, September 5th. This represents a $1.48 annualized dividend and a dividend yield of 4.6%. WesBanco's dividend payout ratio (DPR) is 89.16%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of WesBanco from a "hold" rating to a "buy" rating in a research 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 given a Hold rating to the company's stock. According to data from MarketBeat, WesBanco currently has a consensus rating of "Moderate Buy" and an average target price of $38.83.

Institutional Investors Weigh In On WesBanco

Several institutional investors have recently added to or reduced their stakes in WSBC. Federated Hermes Inc. purchased a new stake in WesBanco during the 1st quarter valued at $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in WesBanco during the 2nd quarter valued at $26,000. Smartleaf Asset Management LLC boosted its position in WesBanco by 132.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock valued at $28,000 after buying an additional 510 shares during the period. Opal Wealth Advisors LLC purchased a new stake in WesBanco during the 1st quarter valued at $34,000. Finally, Creative Financial Designs Inc. ADV purchased a new stake in WesBanco during the 1st quarter valued at $48,000. 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.