WesBanco (NASDAQ:WSBC) Sees Unusually-High Trading Volume on Analyst Upgrade

WesBanco, Inc. (NASDAQ:WSBC) shares saw unusually-high trading volume on Tuesday after DA Davidson raised their price target on the stock from $44.00 to $45.00. DA Davidson currently has a buy rating on the stock. Approximately 461,284 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 431,418 shares.The stock last traded at $34.89 and had previously closed at $35.30.

Other equities analysts also recently issued reports about the stock. Raymond James raised shares of WesBanco from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Finally, Stephens reiterated an “equal weight” rating and set a $39.00 price target on shares of WesBanco in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.17.

Insider Buying and Selling at WesBanco

In other news, EVP Michael L. Perkins sold 1,125 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $34.87, for a total transaction of $39,228.75. Following the transaction, the executive vice president now owns 46,817 shares of the company’s stock, valued at approximately $1,632,508.79. This represents a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On WesBanco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in shares of WesBanco by 42.2% in the second quarter. Renaissance Technologies LLC now owns 50,525 shares of the financial services provider’s stock valued at $1,410,000 after purchasing an additional 15,000 shares during the period. AQR Capital Management LLC raised its holdings in WesBanco by 8.2% in the 2nd quarter. AQR Capital Management LLC now owns 75,616 shares of the financial services provider’s stock worth $2,110,000 after acquiring an additional 5,747 shares during the period. Millennium Management LLC lifted its position in WesBanco by 466.7% during the 2nd quarter. Millennium Management LLC now owns 152,858 shares of the financial services provider’s stock worth $4,266,000 after acquiring an additional 125,883 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in WesBanco by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 31,003 shares of the financial services provider’s stock valued at $865,000 after acquiring an additional 1,410 shares during the period. Finally, Creative Planning grew its position in shares of WesBanco by 18.4% in the second quarter. Creative Planning now owns 31,797 shares of the financial services provider’s stock valued at $887,000 after purchasing an additional 4,945 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $2.34 billion, a P/E ratio of 15.64 and a beta of 0.85. The business has a 50 day moving average price of $33.71 and a 200 day moving average price of $32.23.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. On average, analysts predict that WesBanco, Inc. will post 3.09 earnings per share for the current year.

WesBanco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a dividend of $0.37 per share. This is a boost from WesBanco’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Friday, December 6th. WesBanco’s dividend payout ratio is presently 66.07%.

About WesBanco

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