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

Shares of WesBanco, Inc. (NASDAQ:WSBCGet Free Report) saw strong 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. 461,284 shares changed hands during 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.

WSBC has been the topic of several other reports. Raymond James upgraded shares of WesBanco from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $35.00 to $44.00 in a research report on Friday, December 6th. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a 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 research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

Read Our Latest Stock Analysis on WesBanco

Insider Buying and Selling at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the completion of the sale, the executive vice president now directly owns 46,817 shares of the company’s stock, valued at $1,632,508.79. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Quarry LP lifted its holdings in shares of WesBanco by 215.3% during the second quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 913 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of WesBanco during the 3rd quarter worth approximately $56,000. CWM LLC lifted its stake in shares of WesBanco by 175.2% in the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,319 shares during the period. Roble Belko & Company Inc bought a new stake in WesBanco in the fourth quarter valued at approximately $78,000. Finally, nVerses Capital LLC acquired a new position in shares of WesBanco in the 3rd quarter valued at approximately $80,000. Institutional investors own 61.41% of the company’s stock.

WesBanco Trading Down 0.1 %

The business has a fifty day moving average price of $33.71 and a 200 day moving average price of $32.25. The company has a market capitalization of $2.34 billion, a P/E ratio of 15.63 and a beta of 0.85. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBCGet Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 expect that WesBanco, Inc. will post 3.09 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, December 6th. This is a positive change from WesBanco’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 4.23%. WesBanco’s dividend payout ratio (DPR) is 66.07%.

About WesBanco

(Get Free Report)

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.

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