Key Points
- WesBanco EVP Jan Pattishall-Krupinski sold 4,500 shares on June 22 at an average price of $36.71, totaling $165,195. After the sale, she still owned 35,924 shares, a decrease of 11.13% in her position.
- The stock rose 1.6% and recently traded around $37.28, near its 52-week high of $38.10. WesBanco’s market cap is about $3.59 billion, and the stock trades at a P/E ratio of 12.03.
- WesBanco continues to return capital to shareholders through a quarterly dividend of $0.38 per share and a newly approved buyback program for up to 4 million shares. Analysts currently have a consensus rating of “Moderate Buy” with an average price target of $39.50.
WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) EVP Jan Pattishall-Krupinski sold 4,500 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $36.71, for a total value of $165,195.00. Following the sale, the executive vice president directly owned 35,924 shares in the company, valued at $1,318,770.04. This represents a 11.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
WesBanco Stock Up 1.6%
Shares of NASDAQ WSBC opened at $37.28 on Wednesday. The stock has a market cap of $3.59 billion, a P/E ratio of 12.03 and a beta of 0.68. The business's fifty day simple moving average is $34.86 and its 200-day simple moving average is $34.81. WesBanco, Inc. has a 12-month low of $29.18 and a 12-month 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.
WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The firm had revenue of $257.23 million during the quarter, compared to analysts' expectations of $264.52 million. During the same period in the previous year, the firm posted $0.66 EPS. WesBanco's revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities analysts predict that WesBanco, Inc. will post 3.59 EPS for the current fiscal year.
WesBanco declared that its Board of Directors has approved a share buyback program on Wednesday, May 20th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.
WesBanco Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, June 5th. WesBanco's dividend payout ratio (DPR) is presently 49.03%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. DA Davidson reaffirmed a "buy" rating and issued a $41.00 target price on shares of WesBanco in a report on Wednesday, April 22nd. Raymond James Financial reiterated a "strong-buy" rating and set a $41.00 price target on shares of WesBanco in a report on Thursday, March 12th. Zacks Research downgraded shares of WesBanco from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 28th. Piper Sandler reduced their price objective 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. Finally, Weiss Ratings upgraded shares of WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, WesBanco has an average rating of "Moderate Buy" and a consensus price target of $39.50.
Get Our Latest Report on WSBC
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in WSBC. Vanguard Group Inc. raised 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 acquiring an additional 224,107 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in WesBanco by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 5,451,344 shares of the financial services provider's stock worth $188,013,000 after purchasing an additional 59,077 shares during the last quarter. State Street Corp boosted its holdings 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 purchasing an additional 14,147 shares in the last quarter. Wellington Management Group LLP boosted its holdings in WesBanco by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 2,764,222 shares of the financial services provider's stock valued at $91,883,000 after purchasing an additional 332,585 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in WesBanco by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,356,011 shares of the financial services provider's stock valued at $78,325,000 after purchasing an additional 15,673 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.
About WesBanco
(
Get Free Report)
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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