Insider Selling: WesBanco, Inc. (NASDAQ:WSBC) EVP Sells $161,908.97 in Stock

WesBanco, Inc. (NASDAQ:WSBC) EVP Michael L. Perkins sold 5,363 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total value of $161,908.97. Following the sale, the executive vice president now directly owns 46,817 shares of the company’s stock, valued at $1,413,405.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

WesBanco Trading Up 1.0 %

Shares of WesBanco stock opened at $30.08 on Friday. The company has a 50-day moving average of $28.90 and a two-hundred day moving average of $28.71. WesBanco, Inc. has a 12-month low of $23.00 and a 12-month high of $34.85. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.79 billion, a PE ratio of 12.53 and a beta of 0.84.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $234.35 million during the quarter, compared to analysts’ expectations of $148.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.90%. During the same period in the previous year, the business earned $0.71 earnings per share. On average, research analysts anticipate that WesBanco, Inc. will post 2.1 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Friday, June 7th. WesBanco’s dividend payout ratio (DPR) is presently 60.00%.

Institutional Investors Weigh In On WesBanco

Several institutional investors and hedge funds have recently made changes to their positions in WSBC. International Assets Investment Management LLC raised its position in WesBanco by 3,037.0% during the fourth quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock worth $3,269,000 after acquiring an additional 99,280 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in WesBanco by 11.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,397 shares of the financial services provider’s stock valued at $295,000 after buying an additional 995 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in WesBanco by 3.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,336 shares of the financial services provider’s stock worth $826,000 after buying an additional 900 shares in the last quarter. Greylin Investment Management Inc acquired a new position in shares of WesBanco in the fourth quarter worth $246,000. Finally, Cerity Partners LLC raised its holdings in shares of WesBanco by 23.2% in the fourth quarter. Cerity Partners LLC now owns 30,960 shares of the financial services provider’s stock worth $971,000 after acquiring an additional 5,831 shares during the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on WSBC shares. Hovde Group raised their target price on shares of WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of WesBanco from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. DA Davidson boosted their target price on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Stephens raised their price target on WesBanco from $27.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods upped their price objective on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.71.

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.