WesBanco, Inc. (NASDAQ:WSBC) Receives $33.71 Consensus Target Price from Analysts

Shares of WesBanco, Inc. (NASDAQ:WSBC) have earned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $34.71.

WSBC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Stephens increased their price target on WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Royal Bank of Canada upped their price objective on WesBanco from $32.00 to $35.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Hovde Group upped their price objective on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, DA Davidson upped their price objective on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 29th.

WesBanco Stock Up 1.0 %

NASDAQ WSBC opened at $30.08 on Friday. The firm has a market cap of $1.79 billion, a PE ratio of 12.53 and a beta of 0.84. WesBanco has a one year low of $23.00 and a one year high of $34.85. The stock’s 50 day simple moving average is $28.90 and its 200 day simple moving average is $28.71. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.94.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $234.35 million for the quarter, compared to the consensus estimate of $148.40 million. WesBanco had a return on equity of 5.90% and a net margin of 15.22%. During the same quarter last year, the company earned $0.71 earnings per share. As a group, sell-side analysts forecast that WesBanco will post 2.1 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Friday, June 7th. WesBanco’s dividend payout ratio (DPR) is currently 60.00%.

Insider Activity

In other news, EVP Michael L. Perkins sold 5,363 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total value of $161,908.97. Following the transaction, the executive vice president now owns 46,817 shares of the company’s stock, valued at approximately $1,413,405.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WSBC. Norges Bank acquired a new position in shares of WesBanco in the 4th quarter valued at $8,620,000. Edgestream Partners L.P. acquired a new stake in WesBanco during the 1st quarter worth $3,555,000. International Assets Investment Management LLC raised its stake in WesBanco by 3,037.0% during the 4th quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock worth $3,269,000 after buying an additional 99,280 shares during the period. Inspire Advisors LLC acquired a new stake in WesBanco during the 2nd quarter worth $1,416,000. Finally, Charles Schwab Investment Management Inc. raised its stake in WesBanco by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock worth $25,450,000 after buying an additional 48,304 shares during the period. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Company Profile

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.