Brokerages Set WesBanco, Inc. (NASDAQ:WSBC) Price Target at $36.17

Shares of WesBanco, Inc. (NASDAQ:WSBC) have received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $36.17.

Several research analysts have recently weighed in on WSBC shares. Royal Bank of Canada reissued a “sector perform” rating and set a $35.00 price target on shares of WesBanco in a research report on Monday, September 9th. Stephens increased their price target on shares of WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Hovde Group lifted their price target on shares of WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. DA Davidson increased their price objective on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised their target price on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st.

Insider Activity at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $34.87, for a total transaction of $39,228.75. Following the sale, the executive vice president now owns 46,817 shares in the company, valued at $1,632,508.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.44% of the stock is currently owned by company insiders.

Institutional Trading of WesBanco

Hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its position in shares of WesBanco by 2.5% in the 3rd quarter. New York State Common Retirement Fund now owns 500,890 shares of the financial services provider’s stock valued at $14,917,000 after purchasing an additional 11,987 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in WesBanco by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock valued at $13,685,000 after buying an additional 21,297 shares during the last quarter. F M Investments LLC acquired a new stake in WesBanco in the third quarter valued at $7,726,000. Envestnet Asset Management Inc. lifted its holdings in WesBanco by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 227,429 shares of the financial services provider’s stock worth $6,348,000 after buying an additional 6,043 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of WesBanco by 1.7% during the 1st quarter. Sei Investments Co. now owns 209,011 shares of the financial services provider’s stock worth $6,231,000 after acquiring an additional 3,425 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Price Performance

Shares of WesBanco stock opened at $36.06 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The business has a 50 day simple moving average of $30.95 and a two-hundred day simple moving average of $29.77. The stock has a market capitalization of $2.41 billion, a P/E ratio of 17.25 and a beta of 0.81. WesBanco has a 12 month low of $24.61 and a 12 month high of $36.87.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. The business had revenue of $243.34 million during the quarter, compared to analysts’ expectations of $152.40 million. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, analysts predict that WesBanco will post 2.14 EPS for the current fiscal year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Friday, September 6th. WesBanco’s dividend payout ratio is currently 68.90%.

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.