WesBanco (NASDAQ:WSBC) PT Lowered to $34.00

WesBanco (NASDAQ:WSBC) had its target price decreased by research analysts at Hovde Group from $36.00 to $34.00 in a research note issued on Wednesday, Marketbeat reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price target points to a potential upside of 22.48% from the stock’s previous close.

A number of other research analysts have also recently commented on WSBC. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price target on shares of WesBanco in a research report on Tuesday, April 9th. Stephens restated an “equal weight” rating and issued a $30.00 price target on shares of WesBanco in a research report on Wednesday. Finally, Raymond James upgraded WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, WesBanco presently has a consensus rating of “Hold” and a consensus target price of $30.67.

WesBanco Stock Down 1.8 %

WSBC opened at $27.76 on Wednesday. WesBanco has a fifty-two week low of $19.84 and a fifty-two week 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. The company has a market capitalization of $1.65 billion, a P/E ratio of 11.57 and a beta of 0.86. The stock has a fifty day moving average of $28.64 and a 200-day moving average of $28.23.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in WesBanco by 1.2% in the third 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 last quarter. Wesbanco Bank Inc. lifted its holdings 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 purchasing an additional 39,808 shares in the last quarter. Earnest Partners LLC lifted its holdings 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 purchasing an additional 140,870 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of WesBanco by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock worth $25,450,000 after acquiring an additional 48,304 shares during the period. Finally, FMR LLC lifted its holdings in shares of WesBanco by 3,621.1% during the 3rd quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock worth $12,471,000 after acquiring an additional 496,958 shares during the period. 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.