WesBanco, Inc. (NASDAQ: WSBC) director James W. Cornelsen sold 30,907 shares of the company in a transaction dated Tuesday, November 23rd. The shares were sold at an average price of $ 35.56 for a total value of $ 1,099,052.92. The transaction was announced in a filing with the SEC, which can be accessed via this link.
WSBC stock traded around $ 0.10 during Monday’s trading to hit $ 32.90. 308,771 shares were exchanged compared to an average volume of 257,271 shares. 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 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 metric of 0.81, a quick ratio of 0.83 and debt of 0.15.
WesBanco (NASDAQ: WSBC) last released its earnings results on Tuesday, October 26th. The financial services company reported earnings per share of $ 0.70 for the quarter, missing analysts’ consensus estimates of $ 0.77 ($ 0.07). WesBanco had a return on equity of 9.23% and a net margin of 37.95%. The company had revenue of $ 148.03 million for the quarter, compared to analyst estimates of $ 146.23 million. For the same period last year, the company had earnings per share of $ 0.66. The company’s quarterly sales decreased 4.6% compared to the same quarter last year. Stock analysts predict WesBanco, Inc. will post 3.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 3rd. Shareholders of record on Friday December 10th will receive a dividend of $ 0.33 per share. This equates to a dividend of $ 1.32 on an annual basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday December 9th. WesBanco’s payout ratio is 38.26%.
Several major investors 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 in the financial services company valued at $ 94,445,000 after purchasing an additional 738,385 shares last quarter. State Street Corp increased its position in WesBanco 16.0% in the second quarter. State Street Corp now owns 2,174,275 shares in the financial services company valued at $ 78,127,000 after purchasing an additional 299,326 shares last quarter. BlackRock Inc. increased its position in WesBanco by 4.8% in the second quarter. BlackRock Inc. now owns 5,718,768 shares in the financial services company valued at $ 203,758,000 after purchasing an additional 259,686 shares last quarter. Morgan Stanley added 171.1% to its position in WesBanco in the second quarter. Morgan Stanley now owns 204,113 shares in the financial services company valued at $ 7,272,000 after buying an additional 128,822 shares last quarter. Finally, Victory Capital Management Inc. increased its position in WesBanco by 13.5% in the second quarter. Victory Capital Management Inc. now owns 1,079,156 shares in the financial services company valued at $ 38,451,000, after acquiring an additional 128,475 shares last quarter. Institutional investors own 62.19% of the company’s stock.
Several research firms have got involved with WSBC. The Royal Bank of Canada raised its target price on WesBanco from $ 36.00 to $ 38.00 and valued the company in a report dated Wednesday 29th. Zacks Investment Research reported WesBanco in a research announcement on Tuesday, October 5th , reduced from a “Buy” rating to a “Hold” rating. Finally, on Wednesday, September 29th, Boenning Scattergood affirmed a “neutral” rating of WesBanco shares in a research release. Six research analysts for stocks have given the stock a hold rating. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $ 37.00.
WesBanco company profile
WesBanco, Inc is a banking holding company providing financial services. It operates in the following segments: Community Banking and Trust and Investment Services. The Community Banking segment offers services traditionally offered by commercial service banks, including commercial sight, single sight and fixed deposit accounts, as well as business, mortgage and single installment loans, as well as certain non-traditional offerings such as insurance and securities brokerage services.
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