WesBanco (NASDAQ:WSBC) Shares Pass Above 200-Day Moving Average - Should You Sell?

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $33.96 and traded as high as $34.74. WesBanco shares last traded at $34.20, with a volume of 561,370 shares changing hands.

Wall Street Analyst Weigh In

WSBC has been the topic of several analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $41.00 price target on shares of WesBanco in a report on Thursday, March 12th. DA Davidson reaffirmed a "buy" rating and issued a $41.00 price target on shares of WesBanco in a 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 on the stock in a report on Thursday, April 23rd. Zacks Research lowered shares of WesBanco from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings raised shares of WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday. One equities 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 given a Sell rating to the stock. According to data from MarketBeat.com, WesBanco currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.50.

WesBanco Stock Down 0.7%

The company's fifty day simple moving average is $34.55 and its 200-day simple moving average is $33.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $3.29 billion, a PE ratio of 11.03 and a beta of 0.69.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $257.23 million for the quarter, compared to analyst estimates of $264.52 million. WesBanco had a net margin of 21.12% and a return on equity of 9.76%. The business's revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. On average, analysts forecast that WesBanco, Inc. will post 3.58 EPS for the current year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.4%. WesBanco's payout ratio is 49.03%.

Insider Activity

In related news, Director Joseph R. Robinson acquired 1,000 shares of the company's stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of $34.54 per share, with a total value of $34,540.00. Following the completion of the acquisition, the director directly owned 19,068 shares of the company's stock, valued at $658,608.72. This represents a 5.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lee J. Burdman acquired 3,000 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were bought at an average cost of $33.60 per share, for a total transaction of $100,800.00. Following the completion of the acquisition, the director directly owned 46,772 shares of the company's stock, valued at approximately $1,571,539.20. The trade was a 6.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 7,940 shares of company stock valued at $267,299 over the last ninety days. 2.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WesBanco

A number of large investors have recently made changes to their positions in WSBC. Algebris UK Ltd. purchased a new stake in WesBanco in the third quarter valued at $19,863,000. Citigroup Inc. boosted its holdings in WesBanco by 14.2% in the third quarter. Citigroup Inc. now owns 162,667 shares of the financial services provider's stock valued at $5,194,000 after purchasing an additional 20,269 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in WesBanco by 189.5% in the third quarter. Thrivent Financial for Lutherans now owns 124,063 shares of the financial services provider's stock valued at $3,962,000 after purchasing an additional 81,214 shares during the last quarter. SG Americas Securities LLC boosted its holdings in WesBanco by 84.4% in the fourth quarter. SG Americas Securities LLC now owns 39,608 shares of the financial services provider's stock valued at $1,317,000 after purchasing an additional 18,131 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co purchased a new stake in WesBanco in the third quarter valued at $657,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

About WesBanco

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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