Analysts Set WesBanco, Inc. (NASDAQ:WSBC) PT at $40.83

WesBanco, Inc. (NASDAQ:WSBC) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.83.

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised WesBanco from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $44.00 in a research note on Monday, February 10th. DA Davidson lifted their price objective on WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Raymond James raised WesBanco from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd.

Hedge Funds Weigh In On WesBanco

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in WesBanco by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider’s stock valued at $218,361,000 after acquiring an additional 705,483 shares during the period. Wellington Management Group LLP purchased a new position in WesBanco during the 3rd quarter valued at $116,114,000. State Street Corp boosted its holdings in WesBanco by 1.8% during the 3rd quarter. State Street Corp now owns 1,934,453 shares of the financial services provider’s stock valued at $58,313,000 after acquiring an additional 35,030 shares during the period. Earnest Partners LLC boosted its holdings in WesBanco by 27.1% during the 4th quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider’s stock valued at $57,824,000 after acquiring an additional 379,386 shares during the period. Finally, Bank of America Corp DE boosted its holdings in WesBanco by 8.2% during the 4th quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider’s stock valued at $50,022,000 after acquiring an additional 116,796 shares during the period. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Stock Up 0.7 %

Shares of WSBC opened at $31.98 on Friday. The business’s 50 day moving average is $33.80 and its 200 day moving average is $32.97. The company has a market capitalization of $2.14 billion, a PE ratio of 14.28 and a beta of 0.84. WesBanco has a 12-month low of $25.56 and a 12-month high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. Research analysts expect that WesBanco will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Monday, March 10th. WesBanco’s dividend payout ratio (DPR) is 66.07%.

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.