WesBanco (NASDAQ:WSBC) Hits New 12-Month High – Should You Buy?

WesBanco, Inc. (NASDAQ:WSBC)’s stock price hit a new 52-week high on Monday . The company traded as high as $37.25 and last traded at $37.10, with a volume of 43587 shares. The stock had previously closed at $36.45.

Wall Street Analyst Weigh In

WSBC has been the topic of several research reports. Keefe, Bruyette & Woods increased their price objective on shares of WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Stephens upped their price objective on WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, WesBanco currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.17.

WesBanco Trading Down 1.6 %

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $2.38 billion, a P/E ratio of 17.02 and a beta of 0.81. The firm’s 50-day simple moving average is $31.86 and its 200 day simple moving average is $30.26.

WesBanco (NASDAQ:WSBC) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $243.34 million during the quarter, compared to analyst estimates of $152.40 million. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. During the same period in the prior year, the business earned $0.59 earnings per share. Equities research analysts anticipate that WesBanco, Inc. will post 2.14 EPS for the current fiscal year.

WesBanco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Friday, December 6th. This is an increase from WesBanco’s previous quarterly dividend of $0.36. WesBanco’s payout ratio is presently 68.90%.

Insiders Place Their Bets

In related news, EVP Michael L. Perkins sold 1,125 shares of the company’s stock in a transaction on 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 directly owns 46,817 shares of the company’s stock, valued at approximately $1,632,508.79. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.44% of the company’s stock.

Institutional Trading of WesBanco

Several institutional investors have recently made changes to their positions in WSBC. Quarry LP grew its holdings in shares of WesBanco by 215.3% during the 2nd 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 in the last quarter. Signaturefd LLC grew its stake in WesBanco by 214.5% in the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 944 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of WesBanco during the 2nd quarter worth about $53,000. Point72 Asset Management L.P. acquired a new stake in shares of WesBanco during the 3rd quarter valued at about $56,000. Finally, CWM LLC lifted its holdings in shares of WesBanco by 175.2% during the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,319 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

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.