WesBanco (NASDAQ:WSBC) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• WesBanco shares recently traded above its 200-day moving average for the first time, reaching a high of $32.29, while the stock is currently valued at $32.05.
• Analysts upgraded WesBanco from a "hold" to a "buy" rating, with a consensus target price of $38.83 and a majority rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.37, representing an annual yield of 4.6%, to be paid on October 1st to investors of record.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.04 and traded as high as $32.29. WesBanco shares last traded at $32.05, with a volume of 845,359 shares changing hands.

Analysts Set New Price Targets

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

WesBanco Stock Down 0.7%

The stock's fifty day simple moving average is $31.62 and its 200-day simple moving average is $31.04. 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 stock has a market capitalization of $3.08 billion, a PE ratio of 19.31 and a beta of 0.85.

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

WesBanco Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Jeffrey H. Jackson acquired 4,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the purchase, the chief executive officer owned 4,000 shares of the company's stock, valued at approximately $100,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F Eric Nelson, Jr. purchased 8,000 shares of the stock in a transaction dated Wednesday, September 17th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the acquisition, the director owned 8,000 shares of the company's stock, valued at approximately $200,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 49,600 shares of company stock worth $1,240,000 in the last ninety days. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Swiss National Bank grew its position in WesBanco by 58.8% during the first quarter. Swiss National Bank now owns 185,977 shares of the financial services provider's stock valued at $5,758,000 after acquiring an additional 68,832 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of WesBanco by 258.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock valued at $1,215,000 after buying an additional 28,302 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of WesBanco by 7.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider's stock valued at $8,009,000 after buying an additional 17,172 shares in the last quarter. LPL Financial LLC raised its position in shares of WesBanco by 44.9% in the 1st quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider's stock worth $1,982,000 after purchasing an additional 19,836 shares during the last quarter. Finally, Keybank National Association OH purchased a new position in shares of WesBanco in the 1st quarter worth about $2,108,000. 61.41% of the stock is currently owned by institutional investors.

About WesBanco

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.

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