WesBanco (NASDAQ:WSBC) Reaches New 1-Year High – Should You Buy?

WesBanco, Inc. (NASDAQ:WSBC) hit a new 52-week high on Tuesday . The stock traded as high as $40.33 and last traded at $39.7720, with a volume of 12711 shares trading hands. The stock had previously closed at $40.15.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. DA Davidson reissued a “buy” rating and set a $41.00 price objective on shares of WesBanco in a report on Wednesday, April 22nd. Zacks Research raised WesBanco from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Raymond James Financial reiterated a “strong-buy” rating and set a $41.00 price target on shares of WesBanco in a research report on Thursday, March 12th. Weiss Ratings raised shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, Piper Sandler raised their price objective on shares of WesBanco from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. One 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.25.

WesBanco Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $3.70 billion, a PE ratio of 12.40 and a beta of 0.67. The business has a fifty day moving average price of $35.70 and a 200-day moving average price of $35.18.

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

WesBanco Announces Dividend

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

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

Insider Buying and Selling at WesBanco

In related news, EVP Jan Pattishall-Krupinski sold 4,500 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $36.71, for a total transaction of $165,195.00. Following the transaction, the executive vice president owned 35,924 shares of the company’s stock, valued at approximately $1,318,770.04. This trade represents a 11.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lee J. Burdman purchased 3,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were acquired at an average price of $33.60 per share, with a total value of $100,800.00. Following the completion of the transaction, the director owned 46,772 shares of the company’s stock, valued at approximately $1,571,539.20. This trade represents a 6.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 7,000 shares of company stock worth $236,500 over the last 90 days. Company insiders own 2.07% of the company’s stock.

Hedge Funds Weigh In On WesBanco

A number of large investors have recently bought and sold shares of WSBC. Segall Bryant & Hamill LLC boosted its stake in shares of WesBanco by 0.7% during the first quarter. Segall Bryant & Hamill LLC now owns 928,768 shares of the financial services provider’s stock valued at $32,033,000 after purchasing an additional 6,784 shares during the period. Bank of America Corp DE increased its stake in shares of WesBanco by 0.9% in the first quarter. Bank of America Corp DE now owns 1,696,850 shares of the financial services provider’s stock worth $58,524,000 after buying an additional 14,397 shares during the period. Edgestream Partners L.P. increased its stake in shares of WesBanco by 65.0% in the first quarter. Edgestream Partners L.P. now owns 240,829 shares of the financial services provider’s stock worth $8,306,000 after buying an additional 94,863 shares during the period. Amundi bought a new stake in WesBanco during the 1st quarter valued at $223,000. Finally, California State Teachers Retirement System raised its holdings in WesBanco by 14.7% during the 1st quarter. California State Teachers Retirement System now owns 104,510 shares of the financial services provider’s stock valued at $3,605,000 after buying an additional 13,393 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Company Profile

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.