WesBanco, Inc. (NASDAQ: WSBC) recorded a significant increase in overdraft interest during the month of December. As of December 15, there was short interest totaling 876,600 shares, an increase of 24.8% from the total of 702,600 shares as of November 30. Currently, 1.4% of the company’s shares are sold short. Based on an average daily trading volume of 268,700 shares, the short-term interest ratio is currently 3.3 days.
Several equity research analysts recently commented on WSBC stocks. Boenning Scattergood reissued a “neutral” rating on WesBanco shares in a report released on Wednesday, September 29. Royal Bank of Canada increased its target price on WesBanco from $ 36.00 to $ 38.00 and assigned a rating of “sector performance” to the stock in a report released on Wednesday, September 29. Finally, Zacks investment research downgraded WesBanco from a “hold” rating to a “buy” rating and set a target price of $ 39.00 on the stock in a report released Tuesday. Five research analysts rated the stock with a conservation rating and one assigned a buy rating to the company. According to MarketBeat, WesBanco currently has a consensus rating of “Hold” and a consensus target price of $ 37.25.
WesBanco stock opened at $ 37.62 on Friday. The company has a debt to equity ratio of 0.15, a quick ratio of 0.81, and a current ratio of 0.81. The company has a market cap of $ 2.38 billion, a price-to-earnings ratio of 10.90 and a beta of 1.03. WesBanco has a one-year low at $ 28.65 and a one-year high at $ 39.87. The company’s 50-day average mobile price is $ 34.77, and its two-hundred-day average mobile price is $ 34.35.
WesBanco (NASDAQ: WSBC) last released its quarterly results on Tuesday, October 26. The financial services provider reported earnings per share (EPS) of $ 0.70 for the quarter, missing the Thomson Reuters consensus estimate of $ 0.77 ($ 0.07). The company posted revenue of $ 148.03 million in the quarter, compared to analysts’ estimates of $ 146.23 million. WesBanco had a return on equity of 9.23% and a net margin of 37.95%. The company’s quarterly revenue was down 4.6% from the same quarter last year. In the same quarter of last year, the company posted EPS of $ 0.66. As a group, equity analysts predict that WesBanco will post 3.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, January 3. Shareholders of record on Friday, December 10 received a dividend of $ 0.33. The ex-dividend date of this dividend was Thursday, December 9. This represents an annualized dividend of $ 1.32 and a return of 3.51%. WesBanco’s dividend payout ratio (DPR) is 38.26%.
In other WesBanco news, director Stephen J. Callen bought 5,000 shares of the company in a transaction dated Monday, December 20. The shares were purchased at an average price of $ 32.72 per share, for a total value of $ 163,600.00. The acquisition has been disclosed in a legal file with the Securities & Exchange Commission, which is available at this hyperlink. In addition, director James W. Cornelsen sold 30,907 shares of WesBanco in a trade that took place on Tuesday, November 23. The shares were sold for an average price of $ 35.56, for a total value of $ 1,099,052.92. Disclosure of this sale can be found here. Insiders own 3.13% of the shares of the company.
Institutional investors recently bought and sold shares in the company. Strs Ohio increased its position in WesBanco by 6.1% in the third quarter. Strs Ohio now owns 36,300 shares of the financial services provider valued at $ 1,237,000 after purchasing an additional 2,100 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in WesBanco by 39.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,897 shares of the financial services provider valued at $ 281,000 after purchasing an additional 2,237 shares in the last quarter. Legal & General Group Plc strengthened its position in WesBanco by 4.8% during the 2nd quarter. Legal & General Group Plc now owns 48,271 shares of the financial services provider valued at $ 1,719,000 after purchasing an additional 2,221 shares in the last quarter. Dupont Capital Management Corp strengthened its position in WesBanco by 18.7% in the 3rd quarter. Dupont Capital Management Corp now owns 31,590 shares of the financial services provider valued at $ 1,077,000 after purchasing an additional 4,977 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in WesBanco by 197.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,693 shares of the financial services provider valued at $ 773,000 after purchasing an additional 14,401 shares in the last quarter. Hedge funds and other institutional investors hold 62.19% of the company’s shares.
WesBanco, Inc is a banking holding company that provides financial services. It operates in the following segments: Community Banking and Trust and Investment Services. The community banking segment provides services traditionally offered by commercial banking services, including sight, sight and term commercial accounts, as well as commercial, mortgage and individual installment loans, and some non-traditional offerings, such as as insurance and securities brokerage. services.
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