WesBanco, Inc. (NASDAQ:WSBC – Get Rating) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,250,000 shares, a growth of 22.5% from the August 31st total of 1,020,000 shares. Based on an average daily volume of 174,900 shares, the short-interest ratio is currently 7.1 days. Approximately 2.2% of the company's stock are short sold.
Insider Transactions at WesBanco
In related news, Director Joseph R. Robinson bought 2,000 shares of the company's stock in a transaction dated Thursday, September 15th. The stock was bought at an average price of $30.30 per share, with a total value of $60,600.00. Following the transaction, the director now owns 7,347 shares of the company's stock, valued at $222,614.10. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.15% of the company's stock.
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Institutional Trading of WesBanco
Several institutional investors and hedge funds have recently added to or reduced their stakes in WSBC. SG Americas Securities LLC acquired a new stake in shares of WesBanco during the first quarter valued at approximately $337,000. MCF Advisors LLC acquired a new stake in shares of WesBanco during the first quarter valued at approximately $33,000. M&T Bank Corp raised its holdings in shares of WesBanco by 4.7% during the first quarter. M&T Bank Corp now owns 8,292 shares of the financial services provider's stock valued at $285,000 after acquiring an additional 374 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of WesBanco by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,271,700 shares of the financial services provider's stock valued at $146,777,000 after acquiring an additional 38,103 shares during the period. Finally, Barclays PLC increased its stake in WesBanco by 45.6% in the 4th quarter. Barclays PLC now owns 158,827 shares of the financial services provider's stock valued at $5,558,000 after buying an additional 49,763 shares during the period. 58.36% of the stock is owned by institutional investors and hedge funds.
WesBanco Trading Up 0.4 %
Shares of NASDAQ:WSBC opened at $34.28 on Thursday. The company has a 50 day moving average of $34.62 and a 200-day moving average of $33.61. The firm has a market cap of $2.07 billion, a P/E ratio of 12.20 and a beta of 0.90. WesBanco has a twelve month low of $29.50 and a twelve month high of $38.37. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.17.
WesBanco (NASDAQ:WSBC – Get Rating) last released its earnings results on Tuesday, July 26th. The financial services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). WesBanco had a net margin of 31.53% and a return on equity of 7.63%. The business had revenue of $139.21 million for the quarter, compared to analyst estimates of $146.27 million. As a group, analysts anticipate that WesBanco will post 2.96 earnings per share for the current fiscal year.
WesBanco Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.97%. The ex-dividend date is Thursday, September 8th. WesBanco's dividend payout ratio is presently 48.40%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on WSBC. Janney Montgomery Scott began coverage on shares of WesBanco in a research report on Tuesday, September 6th. They set a "neutral" rating and a $37.00 price objective for the company. DA Davidson reissued a "buy" rating on shares of WesBanco in a research note on Wednesday, July 27th. Finally, B. Riley reduced their target price on shares of WesBanco from $32.00 to $29.00 in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $34.50.
WesBanco Company Profile
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WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit.
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