WesBanco (NASDAQ:WSBC) Given New $40.00 Price Target at Keefe, Bruyette & Woods

WesBanco (NASDAQ:WSBC) had its target price reduced by Keefe, Bruyette & Woods from $43.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on WSBC. Royal Bank of Canada reduced their price objective on WesBanco from $36.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Stephens reiterated an “equal weight” rating and set a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. Raymond James decreased their target price on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 2nd. Finally, DA Davidson lifted their price target on shares of WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.71.

WesBanco Stock Down 0.1 %

Shares of NASDAQ:WSBC opened at $30.38 on Monday. The stock has a 50-day simple moving average of $30.39 and a 200-day simple moving average of $32.75. The stock has a market capitalization of $2.03 billion, a P/E ratio of 13.56 and a beta of 0.76. WesBanco has a 1 year low of $25.56 and a 1 year high of $37.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million during the quarter, compared to analyst estimates of $206.63 million. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. During the same quarter in the prior year, the business earned $0.56 earnings per share. Equities analysts forecast that WesBanco will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $0.37 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.48 annualized dividend and a yield of 4.87%. WesBanco’s dividend payout ratio is presently 96.73%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC acquired a new stake in WesBanco during the first quarter valued at approximately $34,000. Creative Financial Designs Inc. ADV bought a new position in shares of WesBanco in the 1st quarter worth about $48,000. Sterling Capital Management LLC lifted its position in shares of WesBanco by 807.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock worth $59,000 after buying an additional 1,614 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of WesBanco by 40.9% in the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock valued at $68,000 after buying an additional 603 shares during the period. Finally, Roble Belko & Company Inc bought a new stake in shares of WesBanco during the 4th quarter valued at about $78,000. 61.41% of the stock is owned by institutional investors and hedge funds.

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.