WesBanco, Inc. (NASDAQ:WSBC – Get Free Report) has been given a consensus rating of “Hold” by the seven brokerages that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $43.60.
WSBC has been the topic of several recent research reports. DA Davidson set a $46.00 target price on shares of WesBanco in a report on Thursday, July 23rd. Royal Bank Of Canada restated a “sector perform” rating and issued a $44.00 price target on shares of WesBanco in a report on Monday, September 14th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $42.00 price target on shares of WesBanco in a research report on Thursday, July 23rd. Piper Sandler dropped their price objective on shares of WesBanco from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Finally, Raymond James Financial downgraded shares of WesBanco from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 6th.
Check Out Our Latest Stock Report on WesBanco
Insider Buying and Selling at WesBanco
In other news, EVP Robert Friend sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $42.06, for a total value of $84,120.00. Following the completion of the transaction, the executive vice president directly owned 17,361 shares of the company’s stock, valued at approximately $730,203.66. The trade was a 10.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jayson Zatta sold 12,500 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $41.80, for a total value of $522,500.00. Following the sale, the executive vice president owned 81,082 shares of the company’s stock, valued at $3,389,227.60. This trade represents a 13.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 35,195 shares of company stock worth $1,465,800. 2.07% of the stock is currently owned by company insiders.
Institutional Trading of WesBanco
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of WesBanco in the 2nd quarter worth approximately $363,992,000. Dimensional Fund Advisors LP lifted its position in WesBanco by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 5,451,344 shares of the financial services provider’s stock valued at $188,013,000 after acquiring an additional 59,077 shares during the last quarter. Bank of America Corp DE purchased a new stake in WesBanco during the second quarter valued at approximately $84,562,000. Bank of New York Mellon Corp acquired a new stake in WesBanco in the second quarter valued at approximately $36,433,000. Finally, Segall Bryant & Hamill LLC boosted its stake in WesBanco by 0.7% in the first quarter. Segall Bryant & Hamill LLC now owns 928,768 shares of the financial services provider’s stock valued at $32,033,000 after acquiring an additional 6,784 shares in the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.
WesBanco Price Performance
WSBC opened at $39.05 on Friday. WesBanco has a 12-month low of $29.57 and a 12-month high of $43.02. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $39.11 and its 200-day simple moving average is $37.89. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 11.22 and a beta of 0.69.
WesBanco (NASDAQ:WSBC – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $272.74 million for the quarter, compared to analyst estimates of $274.88 million. WesBanco had a return on equity of 9.58% and a net margin of 23.70%. On average, equities research analysts anticipate that WesBanco will post 3.57 earnings per share for the current fiscal year.
WesBanco Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a yield of 3.9%. WesBanco’s dividend payout ratio is currently 43.68%.
About WesBanco
WesBanco, Inc (NASDAQ: WSBC) is a regional financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to individuals, families, businesses and institutions.
Its offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal and corporate credit services, mortgage banking and other traditional banking products.
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