WesBanco, Inc. (NASDAQ:WSBC) Receives Average Rating of "Hold" from Brokerages

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) has been given a consensus rating of "Hold" by the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $34.71.

Several research analysts have commented on the stock. Hovde Group lifted their price objective on shares of WesBanco from $34.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, July 29th. DA Davidson upped their price target on shares of WesBanco from $35.00 to $42.00 and gave the company a "buy" rating in a report on Monday, July 29th. Stephens increased their price objective on shares of WesBanco from $27.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 6th. Royal Bank of Canada restated a "sector perform" rating and set a $35.00 target price on shares of WesBanco in a research report on Monday, September 9th. Finally, Keefe, Bruyette & Woods increased their price target on WesBanco from $30.00 to $34.00 and gave the stock a "market perform" rating in a report on Thursday, August 1st.

WesBanco Price Performance

WSBC traded up $0.69 during trading hours on Wednesday, hitting $31.36. The company's stock had a trading volume of 533,143 shares, compared to its average volume of 232,404. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 14.72 and a beta of 0.82. The business's 50-day moving average price is $30.48 and its 200-day moving average price is $29.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.73. WesBanco has a 12 month low of $23.00 and a 12 month high of $34.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $234.35 million during 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 in the prior year, the business posted $0.71 EPS. Sell-side analysts expect that WesBanco will post 2.06 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.59%. The ex-dividend date was Friday, September 6th. WesBanco's dividend payout ratio is presently 67.61%.

Insiders Place Their Bets

In other news, EVP Michael L. Perkins sold 5,363 shares of the 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 transaction, the executive vice president now directly owns 46,817 shares of the company's stock, valued at approximately $1,413,405.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.44% of the company's stock.

Hedge Funds Weigh In On WesBanco

Hedge funds have recently bought and sold shares of the business. Quarry LP boosted its stake in shares of WesBanco by 215.3% in the second quarter. Quarry LP now owns 1,337 shares of the financial services provider's stock worth $37,000 after acquiring an additional 913 shares during the last quarter. Signaturefd LLC grew its holdings in shares of WesBanco by 214.5% during the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider's stock worth $39,000 after buying an additional 944 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of WesBanco in the second quarter worth about $53,000. CWM LLC boosted its position in WesBanco by 175.2% during the third quarter. CWM LLC now owns 2,072 shares of the financial services provider's stock worth $62,000 after acquiring an additional 1,319 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in WesBanco during the 3rd quarter valued at about $80,000. 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.