WesBanco, Inc. (NASDAQ:WSBC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of WesBanco, Inc. (NASDAQ:WSBC) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $36.17.

Several brokerages have issued reports on WSBC. Stephens boosted their price target on WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. DA Davidson lifted their price target on shares of WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Finally, Hovde Group boosted their target price on WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, July 29th.

WesBanco Price Performance

Shares of WSBC opened at $35.15 on Friday. The business has a 50-day moving average of $30.79 and a 200-day moving average of $29.64. WesBanco has a 1 year low of $24.55 and a 1 year high of $36.13. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 16.82 and a beta of 0.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. The firm had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. During the same quarter in the previous year, the company earned $0.59 EPS. As a group, equities research analysts anticipate that WesBanco will post 2.14 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.10%. WesBanco’s dividend payout ratio (DPR) is currently 68.90%.

Insiders Place Their Bets

In other news, EVP Michael L. Perkins sold 1,125 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $34.87, for a total value of $39,228.75. Following the transaction, the executive vice president now owns 46,817 shares in the company, valued at $1,632,508.79. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.44% of the company’s stock.

Institutional Trading of WesBanco

Several institutional investors have recently made changes to their positions in WSBC. State Board of Administration of Florida Retirement System boosted its holdings in WesBanco by 105.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider’s stock worth $1,038,000 after purchasing an additional 17,345 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of WesBanco in the 1st quarter worth approximately $3,555,000. Bank of New York Mellon Corp grew its holdings in shares of WesBanco by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock valued at $13,685,000 after acquiring an additional 21,297 shares in the last quarter. Millennium Management LLC grew its holdings in shares of WesBanco by 466.7% in the second quarter. Millennium Management LLC now owns 152,858 shares of the financial services provider’s stock valued at $4,266,000 after acquiring an additional 125,883 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of WesBanco during the first quarter valued at approximately $212,000. Institutional investors 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.