WesBanco (NASDAQ:WSBC) Given New $38.00 Price Target at Hovde Group

WesBanco (NASDAQ:WSBC) had its price objective increased by analysts at Hovde Group from $34.00 to $38.00 in a report issued on Monday, Marketbeat.com reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price target points to a potential upside of 15.92% from the company’s previous close.

A number of other equities analysts have also weighed in on WSBC. Stephens decreased their price target on WesBanco from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, WesBanco currently has an average rating of “Hold” and a consensus target price of $31.40.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $32.78 on Monday. WesBanco has a twelve month low of $23.00 and a twelve month high of $34.85. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $28.35 and a two-hundred day moving average of $28.60. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 13.66 and a beta of 0.84.

WesBanco (NASDAQ:WSBC) last released its earnings results on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $234.35 million for the quarter, compared to analyst estimates of $148.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.92%. During the same period in the prior year, the company earned $0.71 earnings per share. As a group, analysts expect that WesBanco will post 2.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System lifted its position in WesBanco by 105.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 17,345 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of WesBanco by 6.3% in the fourth 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 during the last quarter. International Assets Investment Management LLC increased its stake in shares of WesBanco by 3,037.0% in the fourth quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock worth $3,269,000 after acquiring an additional 99,280 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of WesBanco during the first quarter worth $3,555,000. Finally, Vanguard Group Inc. boosted its position in WesBanco by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock valued at $146,019,000 after purchasing an additional 71,928 shares during the last quarter. 61.41% of the stock is 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.