WesBanco (NASDAQ:WSBC – Get Free Report) had its target price dropped by analysts at Stephens from $30.00 to $27.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective points to a potential downside of 1.89% from the company’s current price.
WSBC has been the topic of a number of other reports. 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 research note on Friday, January 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a research note on Tuesday, April 9th. Finally, Hovde Group lowered their price objective on shares of WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday. One 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.60.
View Our Latest Stock Analysis on WSBC
WesBanco Stock Performance
WesBanco (NASDAQ:WSBC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. The business had revenue of $225.96 million for the quarter, compared to analysts’ expectations of $147.81 million. During the same period in the prior year, the company posted $0.71 EPS. Analysts expect that WesBanco will post 2.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On WesBanco
Hedge funds have recently modified their holdings of the company. DiNuzzo Private Wealth Inc. acquired a new stake in shares of WesBanco during the 4th quarter worth about $31,000. Principal Securities Inc. purchased a new position in shares of WesBanco during the 4th quarter worth about $43,000. Sound Income Strategies LLC lifted its holdings in shares of WesBanco by 2,688.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,425 shares during the period. EMC Capital Management purchased a new position in shares of WesBanco during the 3rd quarter worth about $51,000. Finally, TFO Wealth Partners LLC lifted its holdings in shares of WesBanco by 26,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 3,144 shares during the period. 61.41% of the stock is owned by institutional investors and hedge funds.
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.
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