Hovde Group Raises WesBanco (NASDAQ:WSBC) Price Target to $38.00

WesBanco (NASDAQ:WSBC) had its price objective increased by equities research analysts at Hovde Group from $34.00 to $38.00 in a report issued on Monday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s target price would suggest a potential upside of 15.92% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reissued a “sector perform” rating and set a $32.00 target price on shares of WesBanco in a research note on Tuesday, April 9th. Stephens lowered their price objective on WesBanco from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.40.

WesBanco Trading Down 4.4 %

NASDAQ WSBC opened at $32.78 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 13.66 and a beta of 0.84. The firm has a 50 day simple moving average of $28.35 and a 200-day simple moving average of $28.60. WesBanco has a one year low of $23.00 and a one year high of $34.85.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $234.35 million during the quarter, compared to analysts’ expectations of $148.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.92%. During the same period in the prior year, the business earned $0.71 EPS. Equities research analysts anticipate that WesBanco will post 2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On WesBanco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WSBC. State Board of Administration of Florida Retirement System raised its position in WesBanco by 105.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider’s stock valued at $1,038,000 after purchasing an additional 17,345 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of WesBanco by 6.3% in the fourth 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 last quarter. International Assets Investment Management LLC boosted its stake in shares of WesBanco by 3,037.0% during the fourth quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock worth $3,269,000 after buying an additional 99,280 shares during the period. Edgestream Partners L.P. purchased a new position in shares of WesBanco during the first quarter worth about $3,555,000. Finally, Vanguard Group Inc. increased its position in 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 during the period. Hedge funds and other institutional investors own 61.41% of the company’s stock.

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.