WesBanco, Inc. (NASDAQ:WSBC) Sees Significant Growth in Short Interest

WesBanco, Inc. (NASDAQ:WSBC) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,760,000 shares, an increase of 23.1% from the March 15th total of 1,430,000 shares. Based on an average trading volume of 665,600 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.9% of the company’s shares are sold short.

WesBanco Stock Down 1.0 %

Shares of NASDAQ WSBC opened at $28.30 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $31.78 and its two-hundred day moving average is $32.80. WesBanco has a 52-week low of $25.56 and a 52-week high of $37.36. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 12.63 and a beta of 0.76.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. Research analysts predict that WesBanco will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.48 annualized dividend and a dividend yield of 5.23%. WesBanco’s dividend payout ratio is presently 66.07%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WSBC shares. DA Davidson upped their price objective on shares of WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. StockNews.com upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Stephens reiterated an “equal weight” rating and issued a $39.00 price objective on shares of WesBanco in a report on Thursday, January 23rd. Keefe, Bruyette & Woods upgraded WesBanco from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $40.00 to $44.00 in a research report on Monday, February 10th. Finally, Raymond James reduced their target price on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, WesBanco has an average rating of “Moderate Buy” and a consensus target price of $39.43.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new position in WesBanco in the 1st quarter valued at approximately $34,000. Sterling Capital Management LLC raised its stake in shares of WesBanco by 807.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,614 shares in the last quarter. Principal Securities Inc. boosted its holdings in WesBanco by 40.9% in the fourth quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 603 shares during the period. Roble Belko & Company Inc acquired a new position in WesBanco during the 4th quarter worth $78,000. Finally, Allworth Financial LP grew its stake in WesBanco by 668.5% during the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,146 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

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.