WesBanco (NASDAQ:WSBC) Research Coverage Started at Piper Sandler

Piper Sandler initiated coverage on shares of WesBanco (NASDAQ:WSBC) in a report published on Thursday, MarketBeat Ratings reports. The firm issued an overweight rating and a $37.00 price target on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Raymond James reduced their target price on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. DA Davidson lifted their price target on WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Stephens restated an “equal weight” rating and set a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Keefe, Bruyette & Woods upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $44.00 in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.43.

WesBanco Stock Down 2.6 %

NASDAQ WSBC opened at $27.80 on Thursday. The company has a market capitalization of $1.86 billion, a P/E ratio of 12.41 and a beta of 0.84. The stock has a 50 day moving average price of $33.59 and a 200-day moving average price of $32.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. WesBanco has a one year low of $25.56 and a one year high of $37.36.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data 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%. As a group, equities analysts predict that WesBanco will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend was Monday, March 10th. WesBanco’s dividend payout ratio (DPR) is presently 66.07%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position 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 worth $218,361,000 after purchasing an additional 705,483 shares during the period. Wellington Management Group LLP acquired a new position in WesBanco in the 3rd quarter valued at $116,114,000. State Street Corp lifted its stake in shares of WesBanco by 1.8% in 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. Earnest Partners LLC lifted its stake in WesBanco by 27.1% in the 4th quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider’s stock worth $57,824,000 after purchasing an additional 379,386 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in WesBanco by 8.2% during the fourth quarter. Bank of America Corp DE now owns 1,537,252 shares of the financial services provider’s stock worth $50,022,000 after buying an additional 116,796 shares during the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

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.