WesBanco (NASDAQ:WSBC) Raised to "Buy" at Wall Street Zen

Key Points

• WesBanco's stock rating has been upgraded from a "hold" to a "buy" by analysts at Wall Street Zen.
• The company reported earnings of $0.91 per share for the last quarter, which exceeded expectations of $0.87 by $0.04.
• Institutional investors have been actively increasing their stakes in WesBanco, with Osaic Holdings Inc. boosting its stake by 108% in the second quarter.

Wall Street Zen upgraded shares of WesBanco (NASDAQ:WSBC - Free Report) from a hold rating to a buy rating in a report issued on Saturday.

WesBanco Stock Up 3.8%

NASDAQ:WSBC traded up $1.17 during trading hours on Friday, reaching $32.32. The company's stock had a trading volume of 821,235 shares, compared to its average volume of 382,115. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 19.47 and a beta of 0.85. WesBanco has a one year low of $26.42 and a one year high of $37.36. The business's 50-day moving average is $31.66 and its 200-day moving average is $31.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The firm had revenue of $260.73 million during 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 period in the prior year, the company posted $0.49 earnings per share. Equities research analysts predict that WesBanco will post 3.24 EPS for the current year.

WesBanco Announces Dividend

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

Insider Transactions at WesBanco

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

Institutional Investors Weigh In On WesBanco

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in WesBanco during the first quarter valued at about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in WesBanco during the second quarter valued at about $26,000. Smartleaf Asset Management LLC boosted its holdings in WesBanco by 132.5% during the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 510 shares during the period. Opal Wealth Advisors LLC bought a new stake in WesBanco during the first quarter valued at about $34,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in shares of WesBanco during the first quarter valued at about $48,000. 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.