Insider Sale: Director of WesBanco, Inc. (NASDAQ: WSBC) Sells 30,907 Shares
WesBanco, Inc. (NASDAQ: WSBC) Director James W. Cornelsen sold 30,907 shares of the company in a transaction dated Tuesday, November 23. The shares were sold for an average price of $ 35.56, for a total value of $ 1,099,052.92. The transaction was disclosed in a file with the SEC, accessible through this link.
WSBC stock traded down $ 0.10 in Monday’s session, reaching $ 32.90. 308,771 shares were traded, for an average volume of 257,271. WesBanco, Inc. has a twelve month low of $ 28.25 and a twelve month high of $ 39.87. The company has a market cap of $ 2.08 billion, a P / E ratio of 9.52 and a beta of 1.05. The stock has a 50-day simple moving average of $ 35.24 and a 200-day simple moving average of $ 35.12. The company has a current ratio of 0.81, a quick ratio of 0.83, and a debt ratio of 0.15.
WesBanco (NASDAQ: WSBC) last released its results on Tuesday, October 26. The financial services provider reported earnings of $ 0.70 per share for the quarter, missing analyst consensus estimates of $ 0.77 per ($ 0.07). WesBanco had a return on equity of 9.23% and a net margin of 37.95%. The company posted revenue of $ 148.03 million for the quarter, compared to analysts’ estimates of $ 146.23 million. During the same period last year, the company made a profit of $ 0.66 per share. The company’s quarterly revenue is down 4.6% from the same quarter last year. Stock analysts predict that WesBanco, Inc. will post 3.45 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 3. Shareholders of record on Friday, December 10 will receive a dividend of $ 0.33 per share. This represents a dividend of $ 1.32 on an annualized basis and a return of 4.01%. The ex-dividend date of this dividend is Thursday, December 9. WesBanco’s payout ratio is 38.26%.
Several large investors have recently bought and sold shares in the company. Wesbanco Bank Inc. increased its position in WesBanco by 38.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 2,650,685 shares of the financial services provider valued at $ 94,445,000 after purchasing an additional 738,385 shares in the last quarter. State Street Corp increased its position in WesBanco by 16.0% in the 2nd quarter. State Street Corp now owns 2,174,275 shares of the financial services provider worth $ 78,127,000 after purchasing an additional 299,326 shares in the last quarter. BlackRock Inc. increased its position in WesBanco by 4.8% in the 2nd quarter. BlackRock Inc. now owns 5,718,768 shares of the financial services provider valued at $ 203,758,000 after purchasing an additional 259,686 shares in the last quarter. Morgan Stanley increased its position in WesBanco by 171.1% in the 2nd quarter. Morgan Stanley now owns 204,113 shares of the financial services provider valued at $ 7,272,000 after purchasing an additional 128,822 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in WesBanco by 13.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,079,156 shares of the financial services provider valued at $ 38,451,000 after purchasing an additional 128,475 shares during the last quarter. Institutional investors hold 62.19% of the shares of the company.
Several research firms have weighed in on WSBC. Royal Bank of Canada raised its price target on WesBanco from $ 36.00 to $ 38.00 and assigned the company a “sector performance” rating in a report released on Wednesday, September 29. Zacks Investment Research downgraded WesBanco from a “buy” rating to a “custody” rating in a Tuesday (October 5) research note. Finally, Boenning Scattergood reiterated a “neutral” rating on WesBanco shares in a research note on Wednesday, September 29. Six equity research analysts rated the stock with a maintenance rating. Based on data from MarketBeat.com, the company has an average rating of “Maintain” and a consensus target price of $ 37.00.
WesBanco Company Profile
WesBanco, Inc is a banking holding company that provides financial services. It operates in the following segments: Community Banking Services and Trust and Investment Services. The community banking segment provides services traditionally offered by commercial service banks, including commercial current, individual and term accounts, as well as commercial, mortgage and individual installment loans, and some non-traditional offerings, such as insurance and securities brokerage. services.
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