WesBanco, Inc. (NASDAQ:WSBC) Given Average Rating of “Buy” by Brokerages

WesBanco, Inc. (NASDAQ:WSBC) has been given a consensus rating of “Buy” by the six brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.00.

A number of brokerages recently weighed in on WSBC. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of WesBanco in a research note on Monday, December 29th. Piper Sandler initiated coverage on WesBanco in a report on Wednesday, December 17th. They set an “overweight” rating and a $42.00 target price for the company. Finally, DA Davidson initiated coverage on WesBanco in a research report on Wednesday, February 25th. They issued a “buy” rating and a $44.00 target price on the stock.

WesBanco Trading Down 2.8%

NASDAQ WSBC opened at $33.68 on Friday. The company has a market capitalization of $3.24 billion, a PE ratio of 16.27 and a beta of 0.79. The company has a fifty day moving average of $35.29 and a 200 day moving average of $33.29. WesBanco has a 1 year low of $26.42 and a 1 year high of $38.10. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.92 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.84. The company had revenue of $265.78 million during the quarter, compared to the consensus estimate of $265.53 million. WesBanco had a return on equity of 8.81% and a net margin of 15.51%.During the same period in the previous year, the company posted $0.71 earnings per share. Research analysts forecast that WesBanco will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.52 annualized dividend and a dividend yield of 4.5%. WesBanco’s dividend payout ratio is 73.43%.

Institutional Investors Weigh In On WesBanco

Large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its stake in shares of WesBanco by 949.3% during the second quarter. First Trust Advisors LP now owns 1,281,260 shares of the financial services provider’s stock worth $40,526,000 after buying an additional 1,159,158 shares during the period. Goldman Sachs Group Inc. grew its holdings in WesBanco by 179.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock worth $47,779,000 after acquiring an additional 991,584 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of WesBanco in the 2nd quarter valued at approximately $29,869,000. Algebris UK Ltd. purchased a new stake in shares of WesBanco in the 3rd quarter valued at approximately $19,863,000. Finally, FJ Capital Management LLC raised its holdings in shares of WesBanco by 771.4% in the 3rd quarter. FJ Capital Management LLC now owns 654,296 shares of the financial services provider’s stock valued at $20,892,000 after purchasing an additional 579,211 shares in the last quarter. 61.41% of the stock is owned by hedge funds and other 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.