WesBanco (NASDAQ:WSBC) Price Target Raised to $34.00

WesBanco (NASDAQ:WSBC - Get Free Report) had its price target lifted by Stephens from $33.00 to $34.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Stephens' price objective would indicate a potential upside of 8.52% from the company's previous close.

Several other equities analysts have also recently issued reports on WSBC. DA Davidson boosted their price objective 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 boosted their price target on shares of WesBanco from $30.00 to $34.00 and gave the stock a "market perform" rating in a research note on Thursday, August 1st. Hovde Group increased their price target on shares of WesBanco from $34.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $35.00 price objective on shares of WesBanco in a report on Monday, September 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $34.71.

WesBanco Stock Performance

NASDAQ WSBC traded up $1.04 on Monday, reaching $31.33. The stock had a trading volume of 608,546 shares, compared to its average volume of 239,204. The business's 50-day moving average price is $30.61 and its 200 day moving average price is $29.31. The stock has a market cap of $2.09 billion, a P/E ratio of 14.85 and a beta of 0.82. WesBanco has a 12-month low of $23.94 and a 12-month high of $34.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.94 and a current ratio of 0.94.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. WesBanco had a net margin of 14.79% and a return on equity of 5.91%. The company had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. During the same period last year, the firm posted $0.59 EPS. As a group, equities analysts expect that WesBanco will post 2.06 earnings per share for the current year.

Insider Activity

In other news, EVP Michael L. Perkins sold 5,363 shares of WesBanco stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total transaction of $161,908.97. Following the completion of the transaction, the executive vice president now owns 46,817 shares of the company's stock, valued at $1,413,405.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.44% of the company's stock.

Institutional Investors Weigh In On WesBanco

A number of large investors have recently bought and sold shares of WSBC. PNC Financial Services Group Inc. boosted its stake in shares of WesBanco by 34.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,292 shares of the financial services provider's stock valued at $197,000 after acquiring an additional 1,617 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in WesBanco during the first quarter worth approximately $222,000. Founders Financial Securities LLC boosted its position in WesBanco by 6.1% during the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider's stock worth $227,000 after acquiring an additional 436 shares during the last quarter. BNP Paribas Financial Markets grew its stake in WesBanco by 43.3% in the 1st quarter. BNP Paribas Financial Markets now owns 34,350 shares of the financial services provider's stock worth $1,024,000 after acquiring an additional 10,375 shares during the period. Finally, Avalon Advisory Group acquired a new position in WesBanco in the 1st quarter valued at $247,000. Institutional investors and hedge funds own 61.41% of the company's stock.

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.