WesBanco (NASDAQ:WSBC) Coverage Initiated at Piper Sandler

Stock analysts at Piper Sandler assumed coverage on shares of WesBanco (NASDAQ:WSBC) in a research report issued to clients and investors on Thursday. The brokerage set an “overweight” rating and a $37.00 price target on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 33.09% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Keefe, Bruyette & Woods raised WesBanco from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $44.00 in a report on Monday, February 10th. DA Davidson lifted their price objective on shares of WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Raymond James dropped their target price on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a report on Wednesday. StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Stephens restated an “equal weight” rating and issued a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.43.

WesBanco Stock Performance

Shares of WSBC opened at $27.80 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco has a 12 month low of $25.56 and a 12 month high of $37.36. The firm has a fifty day simple moving average of $33.59 and a 200 day simple moving average of $32.94. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 12.41 and a beta of 0.84.

WesBanco (NASDAQ:WSBC) last announced 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 return on equity of 6.30% and a net margin of 15.89%. Research analysts forecast that WesBanco will post 3.24 EPS for the current fiscal year.

Institutional Trading of WesBanco

Several hedge funds have recently added to or reduced their stakes in WSBC. Point72 Asset Management L.P. acquired a new stake in shares of WesBanco during the third quarter worth $56,000. Sterling Capital Management LLC increased its position in WesBanco by 807.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 1,614 shares during the period. Principal Securities Inc. raised its stake in WesBanco by 40.9% in the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 603 shares in the last quarter. Roble Belko & Company Inc bought a new stake in WesBanco in the 4th quarter valued at about $78,000. Finally, Allworth Financial LP grew its position in shares of WesBanco by 668.5% during the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,146 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.