Jan Pattishall-Krupinski Sells 4,500 Shares of WesBanco (NASDAQ:WSBC) Stock

WesBanco, Inc. (NASDAQ:WSBCGet Free Report) EVP Jan Pattishall-Krupinski sold 4,500 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $36.71, for a total transaction of $165,195.00. Following the completion of the transaction, the executive vice president owned 35,924 shares of the company’s stock, valued at $1,318,770.04. This represents a 11.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

WesBanco Stock Up 1.5%

NASDAQ:WSBC opened at $37.86 on Thursday. WesBanco, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $38.10. The stock has a market capitalization of $3.64 billion, a P/E ratio of 12.21 and a beta of 0.68. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92. The company’s 50-day simple moving average is $34.89 and its 200-day simple moving average is $34.84.

WesBanco (NASDAQ:WSBCGet Free Report) last posted its quarterly earnings data 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 net margin of 21.12% and a return on equity of 9.76%. The firm had revenue of $257.23 million during the quarter, compared to analyst estimates of $264.52 million. During the same quarter in the previous year, the business posted $0.66 EPS. WesBanco’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts anticipate that WesBanco, Inc. will post 3.59 earnings per share for the current fiscal year.

WesBanco declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 20th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.0%. WesBanco’s dividend payout ratio is presently 49.03%.

Institutional Investors Weigh In On WesBanco

A number of large investors have recently made changes to their positions in WSBC. Goldman Sachs Group Inc. increased its position in shares of WesBanco by 179.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock valued at $47,779,000 after acquiring an additional 991,584 shares during the period. FJ Capital Management LLC grew its stake in WesBanco by 771.4% during the 3rd quarter. FJ Capital Management LLC now owns 654,296 shares of the financial services provider’s stock valued at $20,892,000 after purchasing an additional 579,211 shares during the last quarter. Aristotle Capital Boston LLC purchased a new stake in WesBanco during the 4th quarter valued at about $11,279,000. Wellington Management Group LLP increased its holdings in shares of 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 during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of WesBanco in the third quarter valued at about $10,220,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on WSBC shares. Weiss Ratings upgraded WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Piper Sandler lowered their price target on WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Raymond James Financial reissued a “strong-buy” rating and issued a $41.00 price target on shares of WesBanco in a report on Thursday, March 12th. Zacks Research upgraded WesBanco from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, DA Davidson restated a “buy” rating and set a $41.00 price objective on shares of WesBanco in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, WesBanco presently has an average rating of “Moderate Buy” and an average price target of $39.50.

View Our Latest Report on WSBC

WesBanco Company Profile

(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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Insider Buying and Selling by Quarter for WesBanco (NASDAQ:WSBC)

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