WesBanco (NASDAQ:WSBC) EVP Jan Pattishall-Krupinski Sells 4,500 Shares of Stock

Key Points

• WesBanco EVP Jan Pattishall-Krupinski sold 4,500 shares on June 22 at an average price of $36.71, totaling about $165,195. After the sale, the executive still held 35,924 shares valued at roughly $1.32 million.
• The company recently reported solid quarterly earnings, posting $0.91 EPS versus analyst expectations of $0.86. Revenue came in at $257.23 million, slightly below forecasts, while net margin remained strong at 21.12%.
• WesBanco is returning cash to shareholders and supporting its stock with a new quarterly dividend of $0.38 per share and a share buyback authorization for up to 4 million shares. The dividend implies an annual yield of about 4.1%.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) EVP Jan Pattishall-Krupinski sold 4,500 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $36.71, for a total transaction of $165,195.00. Following the completion of the sale, the executive vice president owned 35,924 shares of the company's stock, valued at approximately $1,318,770.04. The trade was a 11.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

WesBanco Stock Performance

WSBC traded up $0.41 on Tuesday, hitting $37.11. 580,284 shares of the stock traded hands, compared to its average volume of 789,994. WesBanco, Inc. has a 52 week low of $29.18 and a 52 week high of $38.10. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $3.57 billion, a PE ratio of 11.97 and a beta of 0.68. The business has a fifty day moving average price of $34.84 and a two-hundred day moving average price of $34.78.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $257.23 million during the quarter, compared to the consensus estimate of $264.52 million. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The company's quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. On average, research analysts predict that WesBanco, Inc. will post 3.59 EPS for the current fiscal year.

WesBanco announced that its board has authorized a share buyback program on Wednesday, May 20th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, June 5th. WesBanco's dividend payout ratio (DPR) is 49.03%.

Wall Street Analysts Forecast Growth

WSBC has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Zacks Research cut shares of WesBanco from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 28th. DA Davidson reissued a "buy" rating and issued a $41.00 price target on shares of WesBanco in a research report on Wednesday, April 22nd. Piper Sandler cut their price target on shares of WesBanco from $42.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $41.00 price objective on shares of WesBanco in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, WesBanco currently has an average rating of "Moderate Buy" and an average target price of $39.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WSBC. Vanguard Group Inc. increased its position in shares of WesBanco by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 9,819,476 shares of the financial services provider's stock worth $326,399,000 after purchasing an additional 224,107 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in WesBanco by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,451,344 shares of the financial services provider's stock valued at $188,013,000 after buying an additional 59,077 shares in the last quarter. State Street Corp boosted its position in WesBanco by 0.4% in the second quarter. State Street Corp now owns 3,663,315 shares of the financial services provider's stock valued at $117,109,000 after buying an additional 14,147 shares in the last quarter. Wellington Management Group LLP grew its stake in WesBanco by 13.7% during the fourth quarter. Wellington Management Group LLP now owns 2,764,222 shares of the financial services provider's stock worth $91,883,000 after buying an additional 332,585 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in WesBanco by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,356,011 shares of the financial services provider's stock worth $78,325,000 after buying an additional 15,673 shares during the last quarter. 61.41% of the stock is owned by institutional investors.

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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