WesBanco, Inc. (NASDAQ:WSBC) Short Interest Update

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 1,470,000 shares, a growth of 68.7% from the July 31st total of 871,500 shares. Based on an average daily trading volume, of 246,800 shares, the days-to-cover ratio is currently 6.0 days. Currently, 2.6% of the shares of the company are sold short.

WesBanco Price Performance

Shares of WesBanco stock traded up $0.08 during trading on Wednesday, hitting $32.09. 184,532 shares of the company's stock traded hands, compared to its average volume of 211,340. The company has a market cap of $1.91 billion, a PE ratio of 13.37 and a beta of 0.84. The firm's fifty day moving average price is $30.09 and its 200 day moving average price is $28.83. WesBanco has a twelve month low of $23.00 and a twelve month high of $34.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.94.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). WesBanco had a net margin of 15.22% and a return on equity of 5.90%. The company had revenue of $234.35 million for the quarter, compared to analyst estimates of $148.40 million. During the same period in the previous year, the firm posted $0.71 earnings per share. Analysts forecast that WesBanco will post 2.1 earnings per share for the current year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, September 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.49%. WesBanco's payout ratio is presently 60.00%.

Wall Street Analysts Forecast Growth

WSBC has been the subject of several research reports. Royal Bank of Canada increased their price objective on WesBanco from $32.00 to $35.00 and gave the company a "sector perform" rating in a research report on Monday, July 29th. Hovde Group raised their price target on shares of WesBanco from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. Stephens boosted their price objective on shares of WesBanco from $27.00 to $34.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 6th. Keefe, Bruyette & Woods increased their target price on shares of WesBanco from $30.00 to $34.00 and gave the company a "market perform" rating in a research note on Thursday, August 1st. Finally, DA Davidson boosted their price target on WesBanco from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, WesBanco presently has an average rating of "Hold" and a consensus target price of $34.71.

Insider Transactions at WesBanco

In other news, EVP Michael L. Perkins sold 5,363 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total value of $161,908.97. Following the sale, the executive vice president now directly owns 46,817 shares of the company's stock, valued at $1,413,405.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WesBanco

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its position in WesBanco by 105.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider's stock valued at $1,038,000 after buying an additional 17,345 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of WesBanco by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider's stock worth $25,450,000 after acquiring an additional 48,304 shares in the last quarter. Edgestream Partners L.P. bought a new stake in WesBanco during the 1st quarter worth approximately $3,555,000. SG Americas Securities LLC bought a new stake in WesBanco during the 1st quarter worth approximately $212,000. Finally, Sei Investments Co. increased its holdings in WesBanco by 1.7% during the 1st quarter. Sei Investments Co. now owns 209,011 shares of the financial services provider's stock valued at $6,231,000 after purchasing an additional 3,425 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company's stock.

WesBanco Company Profile

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.