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

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) shares 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 were traded during mid-day 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.

Several other equities analysts also recently commented on WSBC. Stephens reaffirmed an "equal weight" rating and issued a $39.00 target price on shares of WesBanco in a research report on Thursday, January 23rd. Raymond James raised WesBanco from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $35.00 to $44.00 in a report on Friday, December 6th. Finally, StockNews.com raised shares of WesBanco from a "sell" rating to a "hold" rating in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, WesBanco presently has an average rating of "Moderate Buy" and an average price target of $39.17.

Insider Buying and Selling at WesBanco

In other news, EVP Michael L. Perkins sold 1,125 shares of the firm'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 sale, the executive vice president now directly owns 46,817 shares in the company, valued at approximately $1,632,508.79. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.44% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quarry LP boosted its position in WesBanco by 215.3% during the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider's stock worth $37,000 after buying an additional 913 shares during the period. Point72 Asset Management L.P. acquired a new stake in WesBanco in the third quarter valued at $56,000. CWM LLC raised its position 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 purchasing an additional 1,319 shares during the last quarter. Principal Securities Inc. lifted its holdings in WesBanco by 40.9% during the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock worth $68,000 after buying an additional 603 shares during the period. Finally, Roble Belko & Company Inc bought a new stake in shares of WesBanco in the 4th quarter valued at about $78,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Stock Up 0.3 %

The stock has a 50-day moving average price of $33.69 and a 200-day moving average price of $32.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $2.35 billion, a P/E ratio of 15.67 and a beta of 0.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping 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%. On average, research analysts predict that WesBanco, Inc. will post 3.13 EPS for the current fiscal year.

WesBanco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.22%. This is an increase from WesBanco's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, December 6th. WesBanco's payout ratio is currently 66.07%.

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.