WesBanco, Inc. (NASDAQ:WSBC) Receives $36.17 Average Target Price from Analysts

Shares of WesBanco, Inc. (NASDAQ:WSBC) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $36.17.

A number of analysts have commented on WSBC shares. Keefe, Bruyette & Woods upped their price target on shares of WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. DA Davidson lifted their target price on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Hovde Group increased their price target on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Stephens lifted their price objective on shares of WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th.

Insider Activity at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the transaction, the executive vice president now directly owns 46,817 shares of the company’s stock, valued at approximately $1,632,508.79. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WesBanco

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new stake in WesBanco during the 3rd quarter worth approximately $116,114,000. State Street Corp grew its holdings in WesBanco by 1.8% during the third quarter. State Street Corp now owns 1,934,453 shares of the financial services provider’s stock worth $58,313,000 after buying an additional 35,030 shares in the last quarter. Geode Capital Management LLC raised its position in WesBanco by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,419,070 shares of the financial services provider’s stock valued at $42,268,000 after buying an additional 32,879 shares during the last quarter. FMR LLC lifted its stake in WesBanco by 25.8% during the 3rd quarter. FMR LLC now owns 695,487 shares of the financial services provider’s stock valued at $20,712,000 after acquiring an additional 142,597 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in WesBanco by 2.5% during the 3rd quarter. New York State Common Retirement Fund now owns 500,890 shares of the financial services provider’s stock worth $14,917,000 after acquiring an additional 11,987 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

WesBanco Price Performance

Shares of WSBC opened at $35.64 on Friday. The business has a 50-day moving average of $31.22 and a 200-day moving average of $29.93. WesBanco has a 1 year low of $25.56 and a 1 year high of $36.87. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 17.05 and a beta of 0.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. The firm had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. During the same quarter in the previous year, the company earned $0.59 EPS. As a group, equities research analysts anticipate that WesBanco will post 2.14 earnings per share for the current year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Friday, September 6th. WesBanco’s payout ratio is 68.90%.

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.