WesBanco (NASDAQ:WSBC) Price Target Cut to $34.00 by Analysts at Hovde Group

WesBanco (NASDAQ:WSBC) had its price target cut by Hovde Group from $36.00 to $34.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have an outperform rating on the financial services provider’s stock.

WSBC has been the subject of a number of other research reports. Raymond James raised shares of WesBanco from a market perform rating to an outperform rating and set a $34.00 price objective for the company in a research report on Friday, January 5th. Royal Bank of Canada reaffirmed a sector perform rating and set a $32.00 price objective on shares of WesBanco in a research report on Tuesday, April 9th. Finally, Stephens reaffirmed an equal weight rating and set a $30.00 price objective on shares of WesBanco in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, WesBanco presently has an average rating of Hold and an average price target of $30.60.

WesBanco Price Performance

WSBC opened at $27.52 on Wednesday. The company has a 50-day moving average of $28.60 and a 200-day moving average of $28.22. The company has a market capitalization of $1.63 billion, a P/E ratio of 11.47 and a beta of 0.86. WesBanco has a 1-year low of $19.84 and a 1-year high of $32.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. During the same quarter in the previous year, the firm earned $0.71 EPS. Equities analysts expect that WesBanco will post 2.27 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date was Thursday, March 7th. WesBanco’s payout ratio is 60.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. acquired a new stake in shares of WesBanco in the 4th quarter worth approximately $1,196,000. International Assets Investment Management LLC lifted its stake in shares of WesBanco by 3,037.0% in the 4th quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock worth $3,269,000 after acquiring an additional 99,280 shares during the period. Denali Advisors LLC acquired a new stake in shares of WesBanco in the 3rd quarter worth approximately $357,000. Charles Schwab Investment Management Inc. lifted its stake in shares of WesBanco by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 762,966 shares of the financial services provider’s stock worth $18,632,000 after acquiring an additional 106,300 shares during the period. Finally, Vanguard Group Inc. lifted its stake 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 worth $146,019,000 after acquiring an additional 71,928 shares during the period. 61.41% of the stock is owned by institutional investors and hedge funds.

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.