WesBanco (NASDAQ:WSBC) Sees Unusually-High Trading Volume on Analyst Upgrade

WesBanco, Inc. (NASDAQ:WSBC) saw unusually-high trading volume on Tuesday after DA Davidson raised their price target on the stock from $44.00 to $45.00. DA Davidson currently has a buy rating on the stock. Approximately 461,284 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 431,418 shares.The stock last traded at $34.89 and had previously closed at $35.30.

Several other research analysts have also weighed in on the company. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a research report on Friday. Raymond James raised WesBanco from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $35.00 to $44.00 in a research report on Friday, December 6th. Finally, Stephens reiterated an “equal weight” rating and issued a $39.00 price objective on shares of WesBanco in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.17.

Insider Buying and Selling

In other news, EVP Michael L. Perkins sold 1,125 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $34.87, for a total transaction of $39,228.75. Following the transaction, the executive vice president now directly owns 46,817 shares of the company’s stock, valued at approximately $1,632,508.79. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.44% of the stock is owned by company insiders.

Institutional Trading of WesBanco

A number of institutional investors and hedge funds have recently modified their holdings of WSBC. Quarry LP grew its stake in shares of WesBanco by 215.3% during the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 913 shares during the period. Point72 Asset Management L.P. purchased a new stake in WesBanco in the 3rd quarter worth $56,000. CWM LLC boosted its holdings in shares of WesBanco by 175.2% during the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,319 shares during the last quarter. Roble Belko & Company Inc bought a new stake in shares of WesBanco in the fourth quarter worth about $78,000. Finally, Hilltop National Bank boosted its stake in WesBanco by 19.6% during the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock valued at $82,000 after buying an additional 413 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

WesBanco Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $2.33 billion, a PE ratio of 15.58 and a beta of 0.85. The firm has a fifty day simple moving average of $33.71 and a two-hundred day simple moving average of $32.19.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. Equities analysts predict that WesBanco, Inc. will post 3.09 EPS for the current fiscal year.

WesBanco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a dividend of $0.37 per share. This is an increase from WesBanco’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, December 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.25%. WesBanco’s payout ratio is 66.07%.

WesBanco Company Profile

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.