WesBanco, Inc. (NASDAQ:WSBC) Receives $30.75 Average PT from Analysts

WesBanco, Inc. (NASDAQ:WSBC) has received a consensus rating of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $30.60.

A number of equities research analysts recently weighed in on the stock. Raymond James raised shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report 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 report on Tuesday, April 9th. Stephens cut their price objective on shares of WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Hovde Group cut their price objective on WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th.

Hedge Funds Weigh In On WesBanco

Hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in WesBanco by 3,621.1% in the 3rd quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock valued at $12,471,000 after buying an additional 496,958 shares during the last quarter. Norges Bank acquired a new stake in shares of WesBanco during the 4th quarter worth approximately $8,620,000. Earnest Partners LLC increased its position in shares of WesBanco by 10.5% during the third quarter. Earnest Partners LLC now owns 1,484,752 shares of the financial services provider’s stock valued at $36,258,000 after purchasing an additional 140,870 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of WesBanco by 100.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 235,297 shares of the financial services provider’s stock worth $5,746,000 after acquiring an additional 117,635 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in WesBanco by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,966 shares of the financial services provider’s stock valued at $18,632,000 after purchasing an additional 106,300 shares in the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Trading Down 0.9 %

Shares of WSBC opened at $27.52 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. WesBanco has a 12 month low of $19.84 and a 12 month high of $32.20. The stock’s 50-day moving average is $28.57 and its two-hundred day moving average is $28.29. The stock has a market cap of $1.63 billion, a PE ratio of 11.47 and a beta of 0.86.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. WesBanco had a return on equity of 6.54% and a net margin of 17.52%. The firm had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. Equities analysts forecast that WesBanco will post 2.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend was Thursday, March 7th. WesBanco’s dividend payout ratio (DPR) is presently 60.00%.

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.