WesBanco Experiences Surge in Trading Volume After Analyst Upgrade

On Tuesday, WesBanco, Inc. (NASDAQ:WSBC) experienced a notable increase in trading volume after DA Davidson upgraded its price target from $44.00 to $45.00. DA Davidson continues to maintain a buy rating on the stock. During mid-day trading, around 461,284 shares changed hands, marking a 7% rise from the prior trading session, which saw a volume of 431,418 shares. The stock was last traded at $34.89, having closed at $35.30 earlier.

In addition to DA Davidson's upgrade, multiple research analysts have offered their perspectives on WesBanco. StockNews.com recently upgraded WesBanco from a "sell" rating to a "hold" rating in a report released on Friday. Additionally, Raymond James elevated WesBanco from an "outperform" rating to a "strong-buy" rating, adjusting their price target for the company from $35.00 to $44.00 in a report dated December 6th. Furthermore, Stephens affirmed an "equal weight" rating, assigning a price target of $39.00 for WesBanco shares in a report on January 23rd. Currently, four analysts have issued a hold rating on the stock, two have designated it as buy, and one has given a strong buy rating. Based on MarketBeat data, WesBanco has an average rating of "Moderate Buy" along with a consensus target price of $39.17.

Insider Transactions

In other developments, Executive Vice President Michael L. Perkins sold 1,125 shares of WesBanco stock in a transaction on November 8th, at an average price of $34.87. The total for this transaction amounted to $39,228.75. Following this sale, Perkins now owns 46,817 shares of the company's stock, valued at approximately $1,632,508.79. This sale reflects a 2.35% reduction in Perkins's ownership of the stock. The transaction was disclosed in a filing with the Securities and Exchange Commission, as required. Notably, company insiders collectively own 3.44% of WesBanco stock.

Institutional Investment Changes

Various institutional investors and hedge funds have recently adjusted their holdings in WesBanco. Quarry LP notably expanded its position in WesBanco shares by 215.3% during the second quarter, now owning 1,337 shares valued at approximately $37,000 after acquiring an additional 913 shares during the quarter. In the third quarter, Point72 Asset Management L.P. made a new investment in WesBanco worth $56,000. CWM LLC also increased its stake in WesBanco by 175.2%, acquiring an additional 1,319 shares during the third quarter for a total of 2,072 shares valued at $62,000. Additionally, Roble Belko & Company Inc purchased a new investment in WesBanco in the fourth quarter, valued at around $78,000, while Hilltop National Bank raised its holdings by 19.6%, bringing its total shares to 2,518 valued at $82,000. Currently, institutional investors hold 61.41% of WesBanco's stock.

WesBanco's Financial Metrics

WesBanco maintains a debt-to-equity ratio of 0.55. The company has a quick ratio of 0.93, as well as a current ratio of 0.93. With a market capitalization of $2.33 billion, WesBanco has a PE ratio of 15.58 and a beta of 0.85. As per its recent performance, the company’s fifty-day simple moving average stands at $33.71, while its two-hundred-day simple moving average is $32.19. WesBanco reported its earnings on January 22nd, revealing earnings per share (EPS) of $0.71 for the quarter, exceeding analysts’ consensus expectations of $0.54 by $0.17. The firm had a net margin of 15.89% and a return on equity of 6.30%. Analysts predict an EPS of 3.09 for the current fiscal year.

Dividend Increase Announcement

WesBanco recently declared a quarterly dividend, which was paid on January 2nd. Investors who were on record as of December 6th received a dividend payment of $0.37 per share, reflecting an increase from the previous quarterly dividend of $0.36. The ex-dividend date was also set for December 6th. This payout corresponds to an annualized dividend of $1.48 and offers a dividend yield of 4.25%. WesBanco's payout ratio stands at 66.07%.

About WesBanco

WesBanco, Inc. operates as the bank holding company for WesBanco Bank, Inc. This institution offers a wide range of services, including retail banking, corporate banking, personal and corporate trust services, brokerage, mortgage banking, and insurance services, catering to both individuals and businesses throughout the United States. WesBanco functions through two main segments: Community Banking and Trust and Investment Services.

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