WesBanco, Inc. (NASDAQ:WSBC) Given Consensus Rating of “Hold” by Analysts

WesBanco, Inc. (NASDAQ:WSBC) has been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $34.71.

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

WesBanco Stock Up 0.5 %

Shares of NASDAQ:WSBC opened at $29.38 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.94 and a current ratio of 0.94. WesBanco has a 52-week low of $23.00 and a 52-week high of $34.85. The business’s 50 day simple moving average is $31.06 and its two-hundred day simple moving average is $29.11. The firm has a market cap of $1.96 billion, a P/E ratio of 12.24 and a beta of 0.83.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $234.35 million during the quarter, compared to the consensus estimate of $148.40 million. WesBanco had a return on equity of 5.90% and a net margin of 15.22%. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, research analysts forecast that WesBanco will post 2.07 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Friday, September 6th. WesBanco’s dividend payout ratio is presently 60.00%.

Insider Buying and Selling

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total value of $161,908.97. Following the completion of the transaction, the executive vice president now owns 46,817 shares in the company, valued at approximately $1,413,405.23. The sale was disclosed in a 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 Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smithfield Trust Co grew its holdings in WesBanco by 0.9% during the first quarter. Smithfield Trust Co now owns 49,575 shares of the financial services provider’s stock valued at $1,478,000 after purchasing an additional 423 shares during the period. Founders Financial Securities LLC raised its stake in WesBanco by 6.1% in the 1st quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 436 shares during the period. Inspire Investing LLC lifted its holdings in WesBanco by 4.6% during the second quarter. Inspire Investing LLC now owns 12,630 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 560 shares during the last quarter. Raymond James Trust N.A. boosted its position in WesBanco by 3.9% during the second quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 647 shares during the period. Finally, US Bancorp DE increased its stake in shares of WesBanco by 1.0% in the fourth quarter. US Bancorp DE now owns 63,263 shares of the financial services provider’s stock worth $1,985,000 after purchasing an additional 657 shares in the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

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.