WesBanco (NASDAQ:WSBC) Given New $45.00 Price Target at DA Davidson

WesBanco (NASDAQ:WSBC) had its price target raised by DA Davidson from $44.00 to $45.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $35.00 to $44.00 in a report on Friday, December 6th. Stephens reiterated an “equal weight” rating and set a $39.00 price target on shares of WesBanco in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of WesBanco from a “sell” rating to a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.17.

WesBanco Trading Up 3.3 %

Shares of WSBC opened at $35.30 on Monday. WesBanco has a 1-year low of $25.56 and a 1-year high of $37.36. The company has a market capitalization of $2.36 billion, a P/E ratio of 15.76 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The firm’s 50 day simple moving average is $33.71 and its 200 day simple moving average is $32.19.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. Sell-side analysts forecast that WesBanco will post 3.09 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Friday, December 6th. This is a positive change from WesBanco’s previous quarterly dividend of $0.36. WesBanco’s dividend payout ratio is 66.07%.

Insider Transactions at WesBanco

In related news, EVP Michael L. Perkins sold 1,125 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $34.87, for a total transaction 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. The trade was a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On WesBanco

A number of large investors have recently made changes to their positions in the business. Quarry LP increased its position in shares of WesBanco by 215.3% during the second quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock valued at $37,000 after buying an additional 913 shares during the period. Point72 Asset Management L.P. bought a new stake in WesBanco during the 3rd quarter valued at approximately $56,000. CWM LLC grew its holdings in shares of WesBanco by 175.2% during the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,319 shares during the period. Roble Belko & Company Inc bought a new position in shares of WesBanco in the 4th quarter worth approximately $78,000. Finally, nVerses Capital LLC purchased a new position in shares of WesBanco in the 3rd quarter valued at approximately $80,000. 61.41% of the stock is currently owned by institutional investors.

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.