WesBanco, Inc. (NASDAQ:WSBC) Sees Large Growth in Short Interest

WesBanco, Inc. (NASDAQ:WSBC) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 2,540,000 shares, an increase of 32.3% from the December 31st total of 1,920,000 shares. Based on an average trading volume of 401,900 shares, the days-to-cover ratio is presently 6.3 days. Approximately 3.9% of the company’s stock are short sold.

Insider Transactions at WesBanco

In related news, EVP Michael L. Perkins sold 1,125 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.44% of the company’s stock.

Institutional Trading of WesBanco

A number of institutional investors have recently added to or reduced their stakes in the stock. Quarry LP increased its position 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 buying an additional 913 shares during the period. Point72 Asset Management L.P. purchased a new position in WesBanco during the third quarter valued at approximately $56,000. CWM LLC increased its holdings in WesBanco by 175.2% during the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,319 shares during the period. Roble Belko & Company Inc purchased a new stake in WesBanco in the 4th quarter worth approximately $78,000. Finally, nVerses Capital LLC bought a new position in WesBanco in the 3rd quarter valued at $80,000. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Trading Down 0.1 %

Shares of WesBanco stock opened at $35.00 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $2.34 billion, a P/E ratio of 15.63 and a beta of 0.85. WesBanco has a 52-week low of $25.56 and a 52-week high of $37.36. The stock’s 50-day simple moving average is $33.71 and its 200 day simple moving average is $32.25.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. As a group, research analysts anticipate that WesBanco will post 3.09 EPS for the current year.

WesBanco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a $0.37 dividend. The ex-dividend date was Friday, December 6th. This is a boost from WesBanco’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 4.23%. WesBanco’s payout ratio is 66.07%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Stephens reaffirmed an “equal weight” rating and set a $39.00 target price on shares of WesBanco in a research report on Thursday, January 23rd. DA Davidson boosted their price target on shares of WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. Finally, Raymond James upgraded shares of WesBanco from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $35.00 to $44.00 in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

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.