WesBanco (NASDAQ:WSBC) Shares Cross Above Fifty Day Moving Average After Insider Selling

Shares of WesBanco, Inc. (NASDAQ:WSBC) passed above its 50-day moving average during trading on Monday following insider buying activity. The stock has a 50-day moving average of $38.65 and traded as high as $39.68. WesBanco shares last traded at $39.45, with a volume of 535,544 shares traded.

Wall Street Analyst Weigh In

Several analysts recently commented on WSBC shares. Piper Sandler decreased their price target on WesBanco from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Raymond James Financial lowered WesBanco from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 6th. DA Davidson set a $46.00 price objective on WesBanco in a research note on Thursday, July 23rd. Royal Bank Of Canada reissued a “sector perform” rating and set a $44.00 price objective on shares of WesBanco in a report on Monday, September 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of WesBanco in a research note on Friday, October 30th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.60.

WesBanco Trading Up 2.2%

The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 11.34 and a beta of 0.70. The business has a 50 day simple moving average of $38.65 and a 200 day simple moving average of $37.24.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. WesBanco had a return on equity of 9.58% and a net margin of 23.70%. The company had revenue of $272.74 million during the quarter, compared to analyst estimates of $274.88 million. As a group, equities analysts forecast that WesBanco, Inc. will post 3.57 EPS for the current year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a yield of 3.9%. WesBanco’s dividend payout ratio is currently 43.68%.

Institutional Investors Weigh In On WesBanco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WSBC. Maryland State Retirement & Pension System grew its stake in shares of WesBanco by 53.2% during the third quarter. Maryland State Retirement & Pension System now owns 21,431 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 7,442 shares during the last quarter. Jefferies Financial Group Inc. raised its position in WesBanco by 59.0% in the 3rd quarter. Jefferies Financial Group Inc. now owns 17,900 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 6,640 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in WesBanco in the 3rd quarter worth approximately $1,852,000. Fulcrum Asset Management LLP acquired a new position in WesBanco during the 3rd quarter worth $82,000. Finally, StoneX Group Inc. acquired a new position in WesBanco during the 3rd quarter worth $436,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

About WesBanco