WesBanco (NASDAQ:WSBC) Given New $34.00 Price Target at Hovde Group

WesBanco (NASDAQ:WSBC) had its target price trimmed by Hovde Group from $36.00 to $34.00 in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts have also commented on WSBC. Raymond James upgraded shares of WesBanco from a market perform rating to an outperform rating and set a $34.00 price target on the stock in a research note on Friday, January 5th. Royal Bank of Canada reiterated a sector perform rating and issued a $32.00 price target on shares of WesBanco in a research note on Tuesday, April 9th. Finally, Stephens reiterated an equal weight rating and issued a $30.00 price target on shares of WesBanco in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $31.17.

WesBanco Stock Down 2.5 %

WSBC stock opened at $28.28 on Wednesday. The company’s 50 day moving average price is $28.64 and its 200 day moving average price is $28.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. WesBanco has a fifty-two week low of $19.84 and a fifty-two week high of $32.20. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.78 and a beta of 0.86.

WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. The firm had revenue of $225.96 million for the quarter, compared to analyst estimates of $147.81 million. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, equities research analysts anticipate that WesBanco will post 2.27 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.09%. WesBanco’s dividend payout ratio (DPR) is presently 60.00%.

Hedge Funds Weigh In On WesBanco

Hedge funds have recently modified their holdings of the business. Founders Financial Securities LLC lifted its holdings in shares of WesBanco by 6.1% during the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 436 shares during the period. Rhumbline Advisers lifted its holdings in shares of WesBanco by 0.5% during the third quarter. Rhumbline Advisers now owns 97,609 shares of the financial services provider’s stock worth $2,384,000 after purchasing an additional 505 shares during the period. US Bancorp DE lifted its holdings in shares of WesBanco by 1.0% during the fourth quarter. US Bancorp DE now owns 63,263 shares of the financial services provider’s stock worth $1,985,000 after purchasing an additional 657 shares during the period. Bridge City Capital LLC lifted its holdings in shares of WesBanco by 0.8% during the first quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock worth $2,522,000 after purchasing an additional 663 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of WesBanco by 3.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,336 shares of the financial services provider’s stock worth $826,000 after purchasing an additional 900 shares during the period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

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, 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.