WesBanco, Inc. (NASDAQ:WSBC) Receives $34.71 Average Target Price from Analysts

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

A number of brokerages have recently commented on WSBC. DA Davidson increased their price target 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 increased their target price on WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Royal Bank of Canada restated a “sector perform” rating and set a $35.00 price target on shares of WesBanco in a report on Monday, September 9th. Stephens boosted their price target on WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st.

WesBanco Stock Performance

NASDAQ:WSBC opened at $29.38 on Friday. WesBanco has a twelve month low of $23.00 and a twelve month high of $34.85. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The stock’s 50-day simple moving average is $31.06 and its 200 day simple moving average is $29.11. The firm has a market capitalization of $1.96 billion, a PE ratio of 12.24 and a beta of 0.83.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). WesBanco had a net margin of 15.22% and a return on equity of 5.90%. The company had revenue of $234.35 million for the quarter, compared to the consensus estimate of $148.40 million. During the same period last year, the firm posted $0.71 earnings per share. On average, analysts anticipate that WesBanco will post 2.07 EPS for the current fiscal year.

WesBanco Announces Dividend

The business 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 $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Friday, September 6th. WesBanco’s payout ratio is presently 60.00%.

Insider Buying and Selling at WesBanco

In other news, EVP Michael L. Perkins sold 5,363 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total value of $161,908.97. Following the transaction, the executive vice president now owns 46,817 shares in the company, valued at approximately $1,413,405.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.44% of the company’s stock.

Hedge Funds Weigh In On WesBanco

Several hedge funds and other institutional investors have recently bought and sold shares of WSBC. Charles Schwab Investment Management Inc. raised its position in shares of 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 worth $25,450,000 after acquiring an additional 48,304 shares in the last quarter. Principal Securities Inc. bought a new stake in WesBanco in the fourth quarter worth approximately $43,000. Jump Financial LLC acquired a new position in WesBanco in the fourth quarter valued at approximately $283,000. Principal Financial Group Inc. boosted its holdings in shares of WesBanco by 9.9% during the 4th quarter. Principal Financial Group Inc. now owns 18,304 shares of the financial services provider’s stock worth $574,000 after buying an additional 1,647 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of WesBanco during the 4th quarter worth approximately $8,620,000. Institutional investors and hedge funds 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.