WesBanco (NASDAQ:WSBC) PT Lowered to $34.00

WesBanco (NASDAQ:WSBC) had its price target reduced by equities researchers at Hovde Group from $36.00 to $34.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price objective points to a potential upside of 22.48% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Raymond James raised shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Friday, January 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $32.00 price objective on shares of WesBanco in a report on Tuesday, April 9th. Finally, Stephens reissued an “equal weight” rating and set a $30.00 price objective on shares of WesBanco in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.67.

WesBanco Stock Performance

Shares of NASDAQ:WSBC opened at $27.76 on Wednesday. The firm has a market cap of $1.65 billion, a PE ratio of 11.57 and a beta of 0.86. The firm’s 50 day simple moving average is $28.64 and its 200-day simple moving average is $28.23. WesBanco has a one year low of $19.84 and a one year high of $32.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. The business had revenue of $225.96 million for the quarter, compared to analyst estimates of $147.81 million. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. During the same period last year, the company posted $0.71 earnings per share. As a group, equities analysts predict that WesBanco will post 2.27 EPS for the current year.

Institutional Investors Weigh In On WesBanco

Several hedge funds have recently added to or reduced their stakes in WSBC. Founders Financial Securities LLC raised its position in shares of WesBanco by 6.1% in the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 436 shares during the period. Rhumbline Advisers raised its position in shares of WesBanco by 0.5% during the 3rd quarter. Rhumbline Advisers now owns 97,609 shares of the financial services provider’s stock worth $2,384,000 after purchasing an additional 505 shares during the last quarter. US Bancorp DE raised its position in shares of WesBanco by 1.0% during the 4th quarter. US Bancorp DE now owns 63,263 shares of the financial services provider’s stock worth $1,985,000 after purchasing an additional 657 shares during the last quarter. Bridge City Capital LLC grew its stake in WesBanco by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock valued at $2,522,000 after acquiring an additional 663 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in WesBanco by 3.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,336 shares of the financial services provider’s stock valued at $826,000 after acquiring an additional 900 shares in the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

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.