WesBanco (NASDAQ:WSBC) Price Target Cut to $38.00 by Analysts at Raymond James

WesBanco (NASDAQ:WSBC) had its price target decreased by Raymond James from $44.00 to $38.00 in a report released on Wednesday,Benzinga reports. Raymond James currently has a strong-buy rating on the financial services provider’s stock.

WSBC has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised WesBanco from a “market perform” rating to an “outperform” rating and increased their target price for the company from $40.00 to $44.00 in a report on Monday, February 10th. Stephens reissued an “equal weight” rating and issued a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. DA Davidson lifted their target price on shares of WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, StockNews.com upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.83.

WesBanco Trading Up 1.3 %

Shares of WSBC stock opened at $31.05 on Wednesday. The stock has a 50 day simple moving average of $33.82 and a 200-day simple moving average of $33.00. WesBanco has a 1-year low of $25.56 and a 1-year high of $37.36. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 13.86 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. On average, equities research analysts expect that WesBanco will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $0.37 per share. The ex-dividend date was Monday, March 10th. This represents a $1.48 annualized dividend and a yield of 4.77%. WesBanco’s dividend payout ratio (DPR) is 66.07%.

Hedge Funds Weigh In On WesBanco

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC raised its holdings in WesBanco by 807.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,614 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of WesBanco in the 3rd quarter valued at $56,000. Principal Securities Inc. lifted its position in shares of WesBanco by 40.9% during the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 603 shares during the last quarter. Roble Belko & Company Inc acquired a new position in shares of WesBanco during the fourth quarter worth $78,000. Finally, Allworth Financial LP increased its holdings in WesBanco by 668.5% in the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock valued at $78,000 after buying an additional 2,146 shares during the last quarter. 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.