WesBanco (NASDAQ:WSBC) Price Target Raised to $42.00

WesBanco (NASDAQ:WSBC) had its price objective boosted by DA Davidson from $35.00 to $42.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for WesBanco’s Q3 2024 earnings at $0.53 EPS and FY2024 earnings at $2.10 EPS.

WSBC has been the subject of several other research reports. Royal Bank of Canada restated a sector perform rating and issued a $32.00 price objective on shares of WesBanco in a report on Tuesday, April 9th. Stephens cut their price objective on WesBanco from $30.00 to $27.00 and set an equal weight rating for the company in a report on Thursday, April 25th. Finally, Hovde Group upped their price objective on WesBanco from $34.00 to $38.00 and gave the company an outperform rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $33.67.

WesBanco Trading Down 0.8 %

NASDAQ:WSBC opened at $31.88 on Monday. WesBanco has a 12-month low of $23.00 and a 12-month high of $34.85. The firm has a market capitalization of $1.89 billion, a P/E ratio of 13.28 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day simple moving average of $28.49 and a 200 day simple moving average of $28.64.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data 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). WesBanco had a net margin of 15.22% and a return on equity of 5.92%. The company had revenue of $234.35 million for the quarter, compared to analyst estimates of $148.40 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Equities research analysts predict that WesBanco will post 2.21 EPS for the current year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.44 dividend on an annualized basis and a yield of 4.52%. WesBanco’s dividend payout ratio (DPR) is currently 60.00%.

Institutional Trading of WesBanco

Several large investors have recently made changes to their positions in WSBC. DiNuzzo Private Wealth Inc. bought a new stake in WesBanco during the 4th quarter valued at approximately $31,000. Principal Securities Inc. acquired a new position in WesBanco in the 4th quarter valued at approximately $43,000. Signaturefd LLC raised its holdings in shares of WesBanco by 214.5% in the 2nd quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock worth $39,000 after buying an additional 944 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of WesBanco in the 2nd quarter worth approximately $53,000. Finally, TFO Wealth Partners LLC raised its holdings in shares of WesBanco by 26,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock worth $99,000 after buying an additional 3,144 shares in the last quarter. 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.