Brokerages Set WesBanco, Inc. (NASDAQ:WSBC) PT at $34.71

Shares of WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) have received a consensus recommendation of "Hold" from the seven ratings firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $34.71.

WSBC has been the subject of a number of recent research reports. DA Davidson lifted their price target on shares of WesBanco from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price objective on shares of WesBanco from $32.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Monday, July 29th. Hovde Group increased their target price on WesBanco from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Monday, July 29th. Stephens raised their price target on WesBanco from $27.00 to $34.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods upped their price objective on WesBanco from $30.00 to $34.00 and gave the stock a "market perform" rating in a research report on Thursday, August 1st.

WesBanco Stock Down 1.2 %

Shares of WesBanco stock traded down $0.38 during trading hours on Tuesday, reaching $32.01. 179,465 shares of the company were exchanged, compared to its average volume of 211,503. The firm has a market cap of $1.91 billion, a PE ratio of 13.50 and a beta of 0.84. 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 has a 1 year low of $23.00 and a 1 year high of $34.85. The stock's fifty day moving average is $29.87 and its 200 day moving average is $28.79.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company 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 quarter last year, the company earned $0.71 EPS. As a group, equities research analysts forecast that WesBanco will post 2.1 earnings per share for the current year.

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, September 6th. WesBanco's payout ratio is 60.00%.

Insider Transactions at WesBanco

In related news, EVP Michael L. Perkins sold 5,363 shares of the company's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total value of $161,908.97. Following the completion of the sale, the executive vice president now directly owns 46,817 shares of the company's stock, valued at approximately $1,413,405.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.44% of the company's stock.

Institutional Trading of WesBanco

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wesbanco Bank Inc. increased its stake in WesBanco by 2.4% in the first quarter. Wesbanco Bank Inc. now owns 1,681,782 shares of the financial services provider's stock valued at $50,134,000 after purchasing an additional 39,808 shares during the period. Charles Schwab Investment Management Inc. increased its position in WesBanco by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider's stock valued at $25,450,000 after acquiring an additional 48,304 shares during the period. New York State Common Retirement Fund raised its stake in WesBanco by 0.8% during the 4th quarter. New York State Common Retirement Fund now owns 498,605 shares of the financial services provider's stock valued at $15,641,000 after acquiring an additional 3,829 shares during the last quarter. Bank of New York Mellon Corp lifted its position in WesBanco by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider's stock worth $13,685,000 after acquiring an additional 21,297 shares during the period. Finally, Norges Bank purchased a new position in shares of WesBanco in the 4th quarter valued at approximately $8,620,000. Hedge funds and other institutional investors own 61.41% of the company's stock.

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.