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

Shares of WesBanco, Inc. (NASDAQ:WSBC) have been assigned an average rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $34.71.

Several equities analysts have issued reports on WSBC shares. Royal Bank of Canada lifted their target price on WesBanco from $32.00 to $35.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. DA Davidson lifted their target price on WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Hovde Group lifted their target price on WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Stephens boosted their price target on WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods boosted their price target on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st.

WesBanco Stock Down 0.2 %

NASDAQ:WSBC opened at $32.39 on Tuesday. WesBanco has a twelve month low of $23.00 and a twelve month high of $34.85. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 13.50 and a beta of 0.84. The stock has a fifty day simple moving average of $29.87 and a 200-day simple moving average of $28.79. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.73.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $234.35 million for the quarter, compared to analysts’ expectations of $148.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.90%. During the same quarter in the prior year, the business posted $0.71 EPS. Analysts anticipate that WesBanco will post 2.1 EPS for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Friday, September 6th. WesBanco’s dividend payout ratio (DPR) is 60.00%.

Insider Buying and Selling

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total value of $161,908.97. Following the completion of the transaction, the executive vice president now directly owns 46,817 shares of the company’s stock, valued at $1,413,405.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.44% of the company’s stock.

Institutional Trading of WesBanco

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wesbanco Bank Inc. grew its holdings in WesBanco by 2.4% in the 1st quarter. Wesbanco Bank Inc. now owns 1,681,782 shares of the financial services provider’s stock valued at $50,134,000 after buying an additional 39,808 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in WesBanco by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock valued at $25,450,000 after buying an additional 48,304 shares in the last quarter. New York State Common Retirement Fund grew its holdings in WesBanco by 0.8% in the 4th quarter. New York State Common Retirement Fund now owns 498,605 shares of the financial services provider’s stock valued at $15,641,000 after buying an additional 3,829 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in WesBanco by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock valued at $13,685,000 after buying an additional 21,297 shares in the last quarter. Finally, Norges Bank purchased a new stake in WesBanco in the 4th quarter valued at $8,620,000. 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.