WesBanco, Inc. (WSBC) EVP Sells $53,035.20 in Stock
WesBanco, Inc. (NASDAQ:WSBC) EVP Brent E. Richmond sold 1,440 shares of WesBanco stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $36.83, for a total transaction of $53,035.20. Following the sale, the executive vice president now owns 22,701 shares in the company, valued at $836,077.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
WesBanco, Inc. (NASDAQ WSBC) opened at 37.20 on Monday. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 16.99 and a beta of 0.94. The company’s 50-day moving average price is $38.05 and its 200-day moving average price is $38.79. WesBanco, Inc. has a 12-month low of $31.63 and a 12-month high of $44.19.
WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The company had revenue of $94.26 million for the quarter, compared to analyst estimates of $96.70 million. WesBanco had a return on equity of 7.55% and a net margin of 23.44%. During the same period in the previous year, the firm posted $0.58 earnings per share. Equities analysts expect that WesBanco, Inc. will post $2.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, September 7th. WesBanco’s payout ratio is presently 47.71%.
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A number of research analysts recently issued reports on the company. Zacks Investment Research lowered WesBanco from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub lowered WesBanco from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. DA Davidson raised WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Friday, June 2nd. FBR & Co lowered their target price on WesBanco from $44.00 to $40.00 and set a “mkt perform” rating on the stock in a report on Friday, July 21st. Finally, ValuEngine raised WesBanco from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $41.60.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC increased its position in shares of WesBanco by 43.4% in the second quarter. Piedmont Investment Advisors LLC now owns 53,234 shares of the financial services provider’s stock valued at $2,105,000 after buying an additional 16,119 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of WesBanco by 6.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock valued at $146,000 after buying an additional 229 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of WesBanco during the second quarter valued at approximately $236,000. Raymond James Financial Services Advisors Inc. increased its position in shares of WesBanco by 4.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,052 shares of the financial services provider’s stock valued at $239,000 after buying an additional 269 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of WesBanco by 4.7% in the second quarter. The Manufacturers Life Insurance Company now owns 32,856 shares of the financial services provider’s stock valued at $1,300,000 after buying an additional 1,477 shares during the last quarter. 58.12% of the stock is currently owned by hedge funds and other institutional investors.
WesBanco Company Profile
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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