WesBanco (NASDAQ:WSBC) Price Target Raised to $45.00

WesBanco (NASDAQ:WSBC) had its target price lifted by DA Davidson from $44.00 to $45.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on the stock. StockNews.com raised shares of WesBanco from a “sell” rating to a “hold” rating in a research note on Friday, January 24th. Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $35.00 to $44.00 in a report on Friday, December 6th. Finally, Stephens restated an “equal weight” rating and set a $39.00 price target on shares of WesBanco in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.17.

WesBanco Price Performance

Shares of NASDAQ:WSBC opened at $35.00 on Monday. The company has a market capitalization of $2.34 billion, a P/E ratio of 15.63 and a beta of 0.85. WesBanco has a 1-year low of $25.56 and a 1-year high of $37.36. The firm’s 50 day simple moving average is $33.71 and its two-hundred day simple moving average is $32.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. Research analysts expect that WesBanco will post 3.09 EPS for the current fiscal year.

WesBanco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a dividend of $0.37 per share. This is an increase from WesBanco’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.23%. WesBanco’s dividend payout ratio is presently 66.07%.

Insiders Place Their Bets

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the completion of the transaction, the executive vice president now directly owns 46,817 shares in the company, valued at approximately $1,632,508.79. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WSBC. Quarry LP lifted its position in WesBanco by 215.3% during the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 913 shares during the period. Point72 Asset Management L.P. purchased a new position in WesBanco during the 3rd quarter worth approximately $56,000. CWM LLC lifted its stake in WesBanco by 175.2% during the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,319 shares during the period. Roble Belko & Company Inc acquired a new stake in shares of WesBanco in the fourth quarter worth $78,000. Finally, nVerses Capital LLC purchased a new position in shares of WesBanco during the third quarter worth $80,000. Institutional investors own 61.41% of the company’s stock.

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.