WesBanco (NASDAQ:WSBC) Earns Overweight Rating from Analysts at Piper Sandler

Equities researchers at Piper Sandler began coverage on shares of WesBanco (NASDAQ:WSBC) in a report released on Thursday. The brokerage set an “overweight” rating and a $37.00 price target on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 19.16% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. DA Davidson lifted their price objective on shares of WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Raymond James decreased their price target 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. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods raised WesBanco from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $44.00 in a research report on Monday, February 10th. Finally, Stephens reiterated an “equal weight” rating and issued a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, WesBanco has a consensus rating of “Moderate Buy” and an average target price of $39.43.

WesBanco Trading Up 1.3 %

Shares of NASDAQ WSBC opened at $31.05 on Thursday. WesBanco has a fifty-two week low of $25.56 and a fifty-two week 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. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 13.86 and a beta of 0.84. The business’s 50 day moving average price is $33.82 and its 200-day moving average price is $33.00.

WesBanco (NASDAQ:WSBC) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. On average, sell-side analysts expect that WesBanco will post 3.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WSBC. Sterling Capital Management LLC lifted its stake in shares of WesBanco by 807.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,614 shares during the last quarter. Point72 Asset Management L.P. bought a new position in WesBanco in the third quarter worth about $56,000. Principal Securities Inc. raised its holdings in WesBanco by 40.9% in the fourth quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 603 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in shares of WesBanco during the fourth quarter valued at about $78,000. Finally, Allworth Financial LP boosted its holdings in shares of WesBanco by 668.5% in the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock valued at $78,000 after buying an additional 2,146 shares in the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Company Profile

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.