WesBanco, Inc. (NASDAQ:WSBC) Given Consensus Recommendation of “Moderate Buy” by Analysts

WesBanco, Inc. (NASDAQ:WSBC) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $39.1667.

Several analysts have weighed in on WSBC shares. Royal Bank Of Canada boosted their target price on shares of WesBanco from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Wall Street Zen lowered WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of WesBanco in a research note on Monday. Finally, DA Davidson lowered WesBanco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th.

WesBanco Trading Down 0.3%

Shares of NASDAQ:WSBC opened at $32.43 on Thursday. The business’s 50-day moving average is $31.56 and its 200 day moving average is $31.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93. WesBanco has a 1 year low of $26.42 and a 1 year high of $37.18. The firm has a market capitalization of $3.11 billion, a P/E ratio of 16.55 and a beta of 0.89.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.05. WesBanco had a return on equity of 8.55% and a net margin of 13.91%.The business had revenue of $261.58 million during the quarter, compared to the consensus estimate of $263.38 million. During the same quarter last year, the company earned $0.54 earnings per share. On average, research analysts predict that WesBanco will post 3.24 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be given a $0.38 dividend. This is an increase from WesBanco’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, December 5th. WesBanco’s payout ratio is currently 77.55%.

Insider Buying and Selling

In other WesBanco news, Director James W. Cornelsen purchased 10,000 shares of WesBanco stock in a transaction on Wednesday, September 17th. The stock was bought at an average cost of $25.00 per share, with a total value of $250,000.00. Following the transaction, the director owned 10,000 shares of the company’s stock, valued at $250,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director F Eric Nelson, Jr. acquired 8,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the purchase, the director directly owned 8,000 shares of the company’s stock, valued at approximately $200,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 52,921 shares of company stock worth $1,339,995 in the last quarter. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WesBanco

A number of institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its stake in shares of WesBanco by 255.1% in the third quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock worth $26,000 after buying an additional 574 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in WesBanco in the second quarter valued at approximately $26,000. Federated Hermes Inc. acquired a new position in WesBanco in the first quarter valued at approximately $26,000. First Horizon Corp purchased a new stake in WesBanco in the 3rd quarter worth approximately $27,000. Finally, True Wealth Design LLC grew its stake in shares of WesBanco by 77.9% during the 3rd quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 384 shares during the period. Hedge funds and other institutional investors 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.