WesBanco, Inc. (NASDAQ:WSBC) Receives Consensus Rating of “Hold” from Analysts

WesBanco, Inc. (NASDAQ:WSBC) has received an average recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $34.71.

WSBC has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised 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. Hovde Group increased their price target on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $35.00 price objective on shares of WesBanco in a research note on Monday, September 9th. DA Davidson boosted their price target on WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Stephens upped their price target on WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th.

Insider Activity

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total value of $161,908.97. Following the completion of the transaction, the executive vice president now owns 46,817 shares in the company, valued at approximately $1,413,405.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On WesBanco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in shares of WesBanco by 105.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider’s stock valued at $1,038,000 after purchasing an additional 17,345 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of WesBanco by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock worth $25,450,000 after purchasing an additional 48,304 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of WesBanco in the first quarter worth approximately $3,555,000. Bank of New York Mellon Corp boosted its holdings in shares of WesBanco by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock worth $13,685,000 after purchasing an additional 21,297 shares during the period. Finally, SG Americas Securities LLC acquired a new position in WesBanco in the 1st quarter valued at approximately $212,000. Institutional investors own 61.41% of the company’s stock.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $30.52 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $1.81 billion, a PE ratio of 12.72 and a beta of 0.83. WesBanco has a one year low of $23.00 and a one year high of $34.85. The firm has a fifty day moving average of $31.29 and a 200 day moving average of $29.10.

WesBanco (NASDAQ:WSBC) last issued its 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 firm had revenue of $234.35 million for the quarter, compared to analysts’ expectations of $148.40 million. WesBanco had a return on equity of 5.90% and a net margin of 15.22%. During the same period last year, the firm earned $0.71 earnings per share. As a group, research analysts predict that WesBanco will post 2.07 EPS for the current fiscal year.

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.72%. The ex-dividend date is Friday, September 6th. WesBanco’s dividend payout ratio is currently 60.00%.

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.