WesBanco (NASDAQ:WSBC) Price Target Raised to $38.00

WesBanco (NASDAQ:WSBC) had its price target raised by Hovde Group from $34.00 to $38.00 in a report issued on Monday, MarketBeat reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on WSBC. Stephens reduced their target price on WesBanco from $30.00 to $27.00 and set an equal weight rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed a sector perform rating and set a $32.00 target price on shares of WesBanco in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, WesBanco has an average rating of Hold and an average price target of $33.71.

WesBanco Trading Down 4.0 %

Shares of NASDAQ:WSBC opened at $30.59 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.82 billion, a PE ratio of 12.75 and a beta of 0.84. The business has a 50 day moving average of $28.56 and a two-hundred day moving average of $28.66. WesBanco has a 12-month low of $23.00 and a 12-month high of $34.85.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $234.35 million for the quarter, compared to analyst estimates of $148.40 million. WesBanco had a return on equity of 5.92% and a net margin of 15.22%. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, analysts forecast that WesBanco will post 2.15 EPS for the current year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.71%. The ex-dividend date was Friday, June 7th. WesBanco’s dividend payout ratio is currently 60.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WSBC. Norges Bank acquired a new position in WesBanco in the 4th quarter valued at $8,620,000. Edgestream Partners L.P. purchased a new stake in WesBanco in the 1st quarter valued at $3,555,000. International Assets Investment Management LLC grew its holdings in WesBanco by 3,037.0% in the 4th quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock valued at $3,269,000 after buying an additional 99,280 shares in the last quarter. Vanguard Group Inc. grew its holdings in WesBanco by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock valued at $146,019,000 after buying an additional 71,928 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in WesBanco by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock valued at $25,450,000 after buying an additional 48,304 shares in the last quarter. 61.41% of the stock is 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.