WesBanco (NASDAQ:WSBC) Price Target Raised to $35.00

WesBanco (NASDAQ:WSBC) had its price objective lifted by Royal Bank of Canada from $32.00 to $35.00 in a report released on Monday, Benzinga reports. They currently have a sector perform rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Stephens dropped their price target on shares of WesBanco from $30.00 to $27.00 and set an equal weight rating on the stock in a research report on Thursday, April 25th. DA Davidson upped 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. Finally, Hovde Group upped their price objective on shares of WesBanco from $34.00 to $38.00 and gave the company an outperform rating in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, WesBanco has an average rating of Hold and a consensus price target of $33.67.

WesBanco Stock Performance

Shares of WSBC stock opened at $31.88 on Monday. The company’s fifty day simple moving average is $28.49 and its 200-day simple moving average is $28.64. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.89 billion, a PE ratio of 13.28 and a beta of 0.84. WesBanco has a 12 month low of $23.00 and a 12 month high of $34.85.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). WesBanco had a return on equity of 5.92% and a net margin of 15.22%. The firm had revenue of $234.35 million for the quarter, compared to the consensus estimate of $148.40 million. During the same period last year, the company posted $0.71 earnings per share. Equities research analysts expect that WesBanco will post 2.21 EPS for the current fiscal year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a $0.36 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.44 annualized dividend and a dividend yield of 4.52%. WesBanco’s dividend payout ratio (DPR) is presently 60.00%.

Hedge Funds Weigh In On WesBanco

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in WesBanco during the fourth quarter worth about $8,620,000. Edgestream Partners L.P. bought a new stake in WesBanco during the first quarter worth about $3,555,000. International Assets Investment Management LLC lifted its position in WesBanco by 3,037.0% during the fourth quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock worth $3,269,000 after purchasing an additional 99,280 shares during the period. Vanguard Group Inc. lifted its position in WesBanco by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock worth $146,019,000 after purchasing an additional 71,928 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 48,304 shares during the period. 61.41% of the stock is currently owned by institutional investors and hedge funds.

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.