Key Points
- WesBanco director F. Eric Nelson, Jr. sold 752 shares on Dec. 3 at an average price of $33.37 for a total of $25,094.24, as disclosed in an SEC Form 4 filing.
- WesBanco raised its quarterly dividend to $0.38 (annualized $1.52), yielding about 4.6% with an ex-dividend/record date in early December, up from the prior $0.37 payout.
- The firm reported Q3 EPS of $0.94, beating estimates of $0.89, and analysts maintain a roughly "Moderate Buy" consensus with a $39.17 average price target and projected FY EPS of about $3.24.
WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) Director F Eric Nelson, Jr. sold 752 shares of the business's stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $33.37, for a total value of $25,094.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
WesBanco Stock Performance
Shares of WSBC traded down $0.52 on Friday, reaching $32.90. 40,705 shares of the company's stock traded hands, compared to its average volume of 581,524. The stock's 50 day simple moving average is $31.64 and its two-hundred day simple moving average is $31.60. The stock has a market cap of $3.16 billion, a PE ratio of 16.81 and a beta of 0.81. WesBanco, Inc. has a 52-week low of $26.42 and a 52-week high of $37.18. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44.
WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.05. WesBanco had a return on equity of 8.28% and a net margin of 13.91%.The firm had revenue of $261.58 million during the quarter, compared to the consensus estimate of $263.38 million. During the same quarter in the prior year, the company earned $0.54 EPS. On average, analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.
WesBanco Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.6%. This is a boost from WesBanco's previous quarterly dividend of $0.37. The ex-dividend date is Friday, December 5th. WesBanco's dividend payout ratio is 75.51%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on WSBC shares. Royal Bank Of Canada boosted their target price on shares of WesBanco from $34.00 to $36.00 and gave the company a "sector perform" rating in a research note on Friday, October 10th. Wall Street Zen downgraded WesBanco from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. DA Davidson downgraded WesBanco from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 20th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of WesBanco in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.17.
Get Our Latest Stock Analysis on WesBanco
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new stake in shares of WesBanco during the first quarter worth $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of WesBanco during the 2nd quarter valued at $26,000. Smartleaf Asset Management LLC lifted its holdings in WesBanco by 255.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider's stock worth $26,000 after purchasing an additional 574 shares in the last quarter. First Horizon Corp purchased a new stake in WesBanco during the 3rd quarter worth about $27,000. Finally, True Wealth Design LLC boosted its stake in WesBanco by 77.9% in the 3rd quarter. True Wealth Design LLC now owns 877 shares of the financial services provider's stock worth $28,000 after purchasing an additional 384 shares during the period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.
About WesBanco
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
