WesBanco (NASDAQ:WSBC) Shares Gap Down to $29.00

WesBanco, Inc. (NASDAQ:WSBC)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $29.00, but opened at $28.14. WesBanco shares last traded at $28.31, with a volume of 15,021 shares traded.

Analyst Ratings Changes

A number of analysts have recently weighed in on WSBC shares. Stephens reaffirmed an “equal weight” rating and issued a $30.00 price target on shares of WesBanco in a research note on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price target on shares of WesBanco in a research note on Tuesday, April 9th. Finally, Raymond James raised shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.60.

WesBanco Trading Down 3.3 %

The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 11.27 and a beta of 0.86. The firm’s 50 day moving average is $28.64 and its 200 day moving average is $28.23. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68.

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 the consensus estimate of $0.56. The business had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a net margin of 19.11% and a return on equity of 6.94%. During the same quarter in the prior year, the firm earned $0.71 EPS. Equities analysts forecast that WesBanco, Inc. will post 2.27 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a $0.36 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.44 annualized dividend and a dividend yield of 5.13%. WesBanco’s dividend payout ratio (DPR) is presently 57.37%.

Institutional Investors Weigh In On WesBanco

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of WesBanco by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock valued at $146,019,000 after acquiring an additional 71,928 shares in the last quarter. Wesbanco Bank Inc. increased its stake in WesBanco by 2.4% in the 1st quarter. Wesbanco Bank Inc. now owns 1,681,782 shares of the financial services provider’s stock valued at $50,134,000 after buying an additional 39,808 shares during the period. Earnest Partners LLC increased its stake in WesBanco by 10.5% in the 3rd quarter. Earnest Partners LLC now owns 1,484,752 shares of the financial services provider’s stock valued at $36,258,000 after buying an additional 140,870 shares during the period. Charles Schwab Investment Management Inc. increased its stake in WesBanco by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock valued at $25,450,000 after buying an additional 48,304 shares during the period. Finally, FMR LLC increased 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 period. Hedge funds and other institutional investors own 61.41% of the company’s stock.

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.