WesBanco, Inc. (NASDAQ:WSBC) Receives Consensus Rating of “Hold” from Brokerages

Shares of WesBanco, Inc. (NASDAQ:WSBC) have been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $34.71.

A number of equities analysts have recently weighed in on the company. Stephens boosted their target price on WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods upped their price objective on WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. DA Davidson lifted their target price on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada restated a “sector perform” rating and set a $35.00 price target on shares of WesBanco in a research report on Monday, September 9th. Finally, Hovde Group lifted their price objective on shares of WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th.

Insider Buying and Selling at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total value of $161,908.97. Following the transaction, the executive vice president now owns 46,817 shares in the company, valued at approximately $1,413,405.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WesBanco

A number of large investors have recently made changes to their positions in the business. Smithfield Trust Co lifted its stake in WesBanco by 0.9% in the first quarter. Smithfield Trust Co now owns 49,575 shares of the financial services provider’s stock worth $1,478,000 after acquiring an additional 423 shares during the period. Founders Financial Securities LLC increased its position in shares of WesBanco by 6.1% during the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock valued at $227,000 after buying an additional 436 shares during the period. Inspire Investing LLC raised its stake in WesBanco by 4.6% in the second quarter. Inspire Investing LLC now owns 12,630 shares of the financial services provider’s stock worth $353,000 after buying an additional 560 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in WesBanco by 3.9% in the second quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock worth $485,000 after buying an additional 647 shares during the period. Finally, Bridge City Capital LLC boosted its position 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. 61.41% of the stock is currently owned by institutional investors.

WesBanco Stock Up 0.5 %

WSBC stock opened at $30.67 on Wednesday. The firm has a market capitalization of $1.82 billion, a PE ratio of 12.78 and a beta of 0.82. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. WesBanco has a twelve month low of $23.00 and a twelve month high of $34.85. The stock’s 50 day moving average is $30.45 and its 200-day moving average is $29.18.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). WesBanco had a net margin of 15.22% and a return on equity of 5.90%. The company had revenue of $234.35 million for the quarter, compared to the consensus estimate of $148.40 million. During the same quarter last year, the business posted $0.71 earnings per share. Sell-side analysts expect that WesBanco will post 2.06 EPS for the current fiscal year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Friday, September 6th. WesBanco’s payout ratio is 60.00%.

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.