WesBanco (NASDAQ:WSBC) EVP Jayson Zatta Sells 12,500 Shares of Stock

WesBanco, Inc. (NASDAQ:WSBC) EVP Jayson Zatta sold 12,500 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $41.80, for a total transaction of $522,500.00. Following the transaction, the executive vice president owned 81,082 shares of the company’s stock, valued at approximately $3,389,227.60. The trade was a 13.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

WesBanco Price Performance

WSBC stock opened at $41.57 on Friday. The business has a 50 day moving average price of $37.80 and a 200 day moving average price of $35.90. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 12.08 and a beta of 0.67. WesBanco, Inc. has a fifty-two week low of $29.18 and a fifty-two week high of $42.21. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.85 by $0.07. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. The company had revenue of $275.79 million for the quarter, compared to analyst estimates of $267.71 million. Equities research analysts anticipate that WesBanco, Inc. will post 3.57 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were issued a $0.38 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.7%. WesBanco’s dividend payout ratio is presently 44.19%.

WesBanco declared that its board has approved a share buyback plan on Wednesday, May 20th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On WesBanco

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd grew its holdings in shares of WesBanco by 12,500.0% during the fourth quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock worth $25,000 after buying an additional 750 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in WesBanco in the 4th quarter valued at about $29,000. GAMMA Investing LLC raised its stake in WesBanco by 41.1% during the 4th quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 324 shares during the last quarter. First Horizon Corp raised its stake in WesBanco by 55.4% during the 4th quarter. First Horizon Corp now owns 1,302 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 464 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in WesBanco by 71.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 600 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WSBC. Zacks Research upgraded shares of WesBanco from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. DA Davidson set a $46.00 target price on WesBanco in a research report on Thursday, July 23rd. Royal Bank Of Canada boosted their target price on WesBanco from $41.00 to $44.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $42.00 target price on shares of WesBanco in a research report on Thursday, July 23rd. Finally, Piper Sandler raised their price target on WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, WesBanco has an average rating of “Moderate Buy” and an average price target of $43.20.

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.