WesBanco (NASDAQ:WSBC) Given “Sector Perform” Rating at Royal Bank of Canada

WesBanco (NASDAQ:WSBC)‘s stock had its “sector perform” rating reiterated by equities researchers at Royal Bank of Canada in a report released on Monday, Benzinga reports. They currently have a $35.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 13.75% from the company’s previous close.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. DA Davidson increased their price target on shares of WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Stephens increased their price target on shares of WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th. Finally, Hovde Group increased their price target on shares of WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, WesBanco currently has a consensus rating of “Hold” and an average price target of $34.71.

WesBanco Stock Performance

Shares of NASDAQ:WSBC traded down $0.06 on Monday, reaching $30.77. 12,926 shares of the company’s stock were exchanged, compared to its average volume of 212,568. The company has a fifty day moving average of $30.79 and a 200-day moving average of $28.98. WesBanco has a twelve month low of $23.00 and a twelve month high of $34.85. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 12.88 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.73.

WesBanco (NASDAQ:WSBC) last announced its earnings results 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 return on equity of 5.90% and a net margin of 15.22%. The business had revenue of $234.35 million for the quarter, compared to analyst estimates of $148.40 million. During the same quarter in the previous year, the company earned $0.71 EPS. On average, research analysts predict that WesBanco will post 2.1 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michael L. Perkins sold 5,363 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total transaction of $161,908.97. Following the completion of the transaction, the executive vice president now owns 46,817 shares of the company’s stock, valued at $1,413,405.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.44% of the company’s stock.

Hedge Funds Weigh In On WesBanco

Large investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System raised its stake in WesBanco by 105.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 17,345 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in WesBanco by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock worth $25,450,000 after buying an additional 48,304 shares during the last quarter. Edgestream Partners L.P. bought a new position in WesBanco during the first quarter worth $3,555,000. Bank of New York Mellon Corp raised its stake in WesBanco by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock worth $13,685,000 after buying an additional 21,297 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in WesBanco during the first quarter worth $212,000. 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.