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

WesBanco, Inc. (NASDAQ:WSBC) EVP Jan Pattishall-Krupinski sold 4,500 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $36.71, for a total value of $165,195.00. Following the sale, the executive vice president owned 35,924 shares in the company, valued at approximately $1,318,770.04. This trade represents a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

WesBanco Price Performance

WesBanco stock traded up $0.41 on Tuesday, reaching $37.11. The company’s stock had a trading volume of 580,284 shares, compared to its average volume of 789,994. WesBanco, Inc. has a twelve month low of $29.18 and a twelve month high of $38.10. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 11.97 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 business’s fifty day moving average price is $34.84 and its 200 day moving average price is $34.78.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $257.23 million for the quarter, compared to analysts’ expectations of $264.52 million. WesBanco had a net margin of 21.12% and a return on equity of 9.76%. WesBanco’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. Equities analysts expect that WesBanco, Inc. will post 3.59 earnings per share for the current fiscal year.

WesBanco announced that its board has authorized a share repurchase program on Wednesday, May 20th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

WesBanco Dividend Announcement

The company also recently announced 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 is Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.1%. WesBanco’s payout ratio is presently 49.03%.

Analyst Ratings Changes

Several equities analysts recently issued reports on WSBC shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $41.00 price target on shares of WesBanco in a report on Thursday, March 12th. Weiss Ratings raised WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Piper Sandler cut their target price on shares of WesBanco from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Zacks Research lowered shares of WesBanco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Finally, DA Davidson reiterated a “buy” rating and set a $41.00 price target on shares of WesBanco in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of WesBanco by 179.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock worth $47,779,000 after purchasing an additional 991,584 shares during the period. FJ Capital Management LLC boosted its position in shares of WesBanco by 771.4% during the third quarter. FJ Capital Management LLC now owns 654,296 shares of the financial services provider’s stock worth $20,892,000 after purchasing an additional 579,211 shares in the last quarter. Aristotle Capital Boston LLC acquired a new position in shares of WesBanco in the 4th quarter valued at $11,279,000. Wellington Management Group LLP increased its position in shares of WesBanco by 13.7% in the 4th quarter. Wellington Management Group LLP now owns 2,764,222 shares of the financial services provider’s stock valued at $91,883,000 after buying an additional 332,585 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of WesBanco in the 3rd quarter valued at $10,220,000. 61.41% of the stock is currently owned by institutional investors.

About WesBanco

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.