WesBanco, Inc. (NASDAQ:WSBC) Receives Average Rating of “Moderate Buy” from Brokerages

WesBanco, Inc. (NASDAQ:WSBC) has been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $39.00.

Several equities analysts have recently weighed in on WSBC shares. Piper Sandler assumed coverage on WesBanco in a report on Wednesday, December 17th. They set an “overweight” rating and a $42.00 price target on the stock. DA Davidson cut WesBanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a report on Monday, December 29th.

WesBanco Stock Performance

Shares of NASDAQ WSBC opened at $37.78 on Tuesday. The firm’s 50-day moving average price is $34.61 and its 200-day moving average price is $32.61. WesBanco has a 52-week low of $26.42 and a 52-week high of $38.10. The company has a market cap of $3.63 billion, a PE ratio of 18.25 and a beta of 0.80. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.84. WesBanco had a net margin of 15.51% and a return on equity of 8.88%. The company had revenue of $265.78 million for the quarter, compared to the consensus estimate of $265.53 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. As a group, analysts anticipate that WesBanco will post 3.24 EPS for the current year.

WesBanco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were paid a $0.38 dividend. This is a boost from WesBanco’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.0%. WesBanco’s dividend payout ratio (DPR) is currently 73.43%.

Insider Transactions at WesBanco

In related news, Director F Eric Nelson, Jr. sold 752 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $33.37, for a total transaction of $25,094.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On WesBanco

A number of hedge funds have recently modified their holdings of WSBC. Brant Point Investment Management LLC lifted its holdings in shares of WesBanco by 32.9% in the 2nd quarter. Brant Point Investment Management LLC now owns 420,000 shares of the financial services provider’s stock worth $13,285,000 after acquiring an additional 103,915 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in WesBanco in the 2nd quarter worth about $1,013,000. Algebris UK Ltd. purchased a new stake in WesBanco in the 3rd quarter worth about $19,863,000. Boston Partners lifted its stake in WesBanco by 100.6% in the second quarter. Boston Partners now owns 109,517 shares of the financial services provider’s stock worth $3,464,000 after purchasing an additional 54,917 shares during the last quarter. Finally, Atlantic Union Bankshares Corp boosted its position in shares of WesBanco by 11.6% during the second quarter. Atlantic Union Bankshares Corp now owns 17,745 shares of the financial services provider’s stock valued at $561,000 after buying an additional 1,841 shares during the period. 61.41% of the stock is currently owned by institutional investors.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.