Insider Buying: WesBanco Inc (WSBC) Director Acquires 1,343 Shares of Stock

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WesBanco Inc (NASDAQ:WSBC) Director Kerry M. Stemler purchased 1,343 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was acquired at an average cost of $37.66 per share, with a total value of $50,577.38. Following the purchase, the director now owns 96,004 shares of the company’s stock, valued at approximately $3,615,510.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of WSBC stock opened at $37.69 on Friday. WesBanco Inc has a fifty-two week low of $34.14 and a fifty-two week high of $51.12. The stock has a market cap of $2.06 billion, a P/E ratio of 11.82, a PEG ratio of 1.14 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.63.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Monday, January 28th. The financial services provider reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.01). WesBanco had a net margin of 27.77% and a return on equity of 9.20%. The firm had revenue of $128.33 million for the quarter, compared to the consensus estimate of $130.42 million. During the same period in the prior year, the business earned $0.66 EPS. As a group, sell-side analysts predict that WesBanco Inc will post 3.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a dividend of $0.31 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.24 annualized dividend and a yield of 3.29%. This is a boost from WesBanco’s previous quarterly dividend of $0.29. WesBanco’s dividend payout ratio (DPR) is currently 38.63%.

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in WesBanco by 52.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 727 shares of the financial services provider’s stock valued at $27,000 after buying an additional 250 shares in the last quarter. Executive Wealth Management LLC bought a new position in WesBanco during the fourth quarter valued at about $27,000. Advisory Services Network LLC boosted its stake in WesBanco by 55.8% during the fourth quarter. Advisory Services Network LLC now owns 765 shares of the financial services provider’s stock valued at $29,000 after buying an additional 274 shares in the last quarter. MCF Advisors LLC boosted its stake in WesBanco by 496.9% during the fourth quarter. MCF Advisors LLC now owns 955 shares of the financial services provider’s stock valued at $35,000 after buying an additional 795 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in WesBanco during the fourth quarter valued at about $70,000. 57.47% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on WSBC shares. BidaskClub cut WesBanco from a “sell” rating to a “strong sell” rating in a research note on Friday. Zacks Investment Research raised WesBanco from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Sunday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $44.67.

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About WesBanco

WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.

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