WesBanco (NASDAQ:WSBC) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

WesBanco, Inc. (NASDAQ:WSBC)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $32.24 and traded as high as $34.37. WesBanco shares last traded at $33.86, with a volume of 326,199 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WSBC shares. Wall Street Zen downgraded WesBanco from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. DA Davidson lowered WesBanco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Royal Bank Of Canada lifted their price target on WesBanco from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, October 10th. Piper Sandler initiated coverage on shares of WesBanco in a report on Wednesday, December 17th. They set an “overweight” rating and a $42.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

WesBanco Price Performance

The stock has a market cap of $3.25 billion, a PE ratio of 17.28 and a beta of 0.80. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average is $32.93 and its 200 day moving average is $32.24.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05. WesBanco had a net margin of 13.91% and a return on equity of 8.28%. The company had revenue of $261.58 million during the quarter, compared to the consensus estimate of $263.38 million. During the same period in the previous year, the firm earned $0.54 earnings per share. As a group, sell-side analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 5th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.5%. This is a boost from WesBanco’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, December 5th. WesBanco’s dividend payout ratio is 77.55%.

Insider Transactions at WesBanco

In related news, Director F Eric Nelson, Jr. sold 752 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $33.37, for a total transaction of $25,094.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Zahid Afzal purchased 3,321 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was bought at an average price of $30.11 per share, with a total value of $99,995.31. Following the acquisition, the director owned 13,223 shares in the company, valued at $398,144.53. This trade represents a 33.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in WesBanco by 84.4% during the 4th quarter. SG Americas Securities LLC now owns 39,608 shares of the financial services provider’s stock valued at $1,317,000 after purchasing an additional 18,131 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of WesBanco by 10.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,019 shares of the financial services provider’s stock valued at $1,034,000 after acquiring an additional 2,906 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in shares of WesBanco during the fourth quarter worth about $202,000. GAMMA Investing LLC lifted its stake in shares of WesBanco by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 324 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in WesBanco by 9.2% in the third quarter. Allworth Financial LP now owns 7,177 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 607 shares during the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.