WesBanco, Inc. (NASDAQ:WSBC) Given Average Rating of “Hold” by Brokerages

Shares of WesBanco, Inc. (NASDAQ:WSBC) have received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $29.60.

Several equities research analysts have recently weighed in on WSBC shares. Piper Sandler lowered their price target on shares of WesBanco from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday, October 30th. Hovde Group raised shares of WesBanco from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 13th. Royal Bank of Canada lowered their price target on shares of WesBanco from $30.00 to $28.00 in a research report on Tuesday, October 10th. Finally, StockNews.com started coverage on shares of WesBanco in a research report on Thursday, October 5th. They issued a “sell” rating for the company.

WesBanco Price Performance

Shares of WSBC stock opened at $25.29 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $1.50 billion, a P/E ratio of 9.03 and a beta of 0.89. The company’s 50-day simple moving average is $24.57 and its two-hundred day simple moving average is $25.33. WesBanco has a one year low of $19.84 and a one year high of $40.87.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). The company had revenue of $214.47 million during the quarter, compared to the consensus estimate of $149.29 million. WesBanco had a return on equity of 7.76% and a net margin of 22.39%. During the same quarter in the prior year, the company earned $0.85 earnings per share. As a group, equities analysts anticipate that WesBanco will post 2.57 EPS for the current year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.40 dividend on an annualized basis and a yield of 5.54%. WesBanco’s payout ratio is 50.00%.

Institutional Investors Weigh In On WesBanco

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp lifted its position in WesBanco by 4.3% during the third quarter. Stifel Financial Corp now owns 24,522 shares of the financial services provider’s stock valued at $599,000 after acquiring an additional 1,012 shares during the last quarter. Invesco Ltd. lifted its position in WesBanco by 9.2% during the third quarter. Invesco Ltd. now owns 149,712 shares of the financial services provider’s stock valued at $3,656,000 after acquiring an additional 12,616 shares during the last quarter. FMR LLC lifted its position in WesBanco by 3,621.1% during the third quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock valued at $12,471,000 after acquiring an additional 496,958 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in WesBanco by 100.0% during the third quarter. Envestnet Asset Management Inc. now owns 235,297 shares of the financial services provider’s stock valued at $5,746,000 after acquiring an additional 117,635 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in WesBanco by 0.5% during the third quarter. Rhumbline Advisers now owns 97,609 shares of the financial services provider’s stock valued at $2,384,000 after acquiring an additional 505 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services.