WesBanco's (WSBC) "Sector Perform" Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of WesBanco (NASDAQ:WSBC - Free Report) in a research report released on Monday morning, Benzinga reports. The brokerage currently has a $35.00 price objective on the financial services provider's stock.

A number of other analysts have also weighed in on WSBC. Stephens upped their target price on shares of WesBanco from $27.00 to $34.00 and gave the stock an equal weight rating in a research note on Tuesday, August 6th. DA Davidson increased 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. Keefe, Bruyette & Woods upped their price objective on WesBanco from $30.00 to $34.00 and gave the company a market perform rating in a research note on Thursday, August 1st. Finally, Hovde Group boosted their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $34.71.

WesBanco Stock Performance

Shares of WSBC traded down $0.25 during mid-day trading on Monday, reaching $30.58. The company had a trading volume of 419,326 shares, compared to its average volume of 214,942. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.82 billion, a P/E ratio of 12.74 and a beta of 0.83. The stock has a 50 day moving average of $30.85 and a two-hundred day moving average of $28.99. WesBanco has a 52-week low of $23.00 and a 52-week high of $34.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings data 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 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 in the previous year, the business posted $0.71 EPS. On average, analysts expect that WesBanco will post 2.1 earnings per share for the current year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Friday, September 6th. WesBanco's dividend payout ratio (DPR) is 60.00%.

Insider Activity

In other news, EVP Michael L. Perkins sold 5,363 shares of WesBanco stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 $1,413,405.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.44% of the company's stock.

Institutional Investors Weigh In On WesBanco

A number of hedge funds have recently bought and sold shares of WSBC. Quarry LP grew its position in WesBanco by 215.3% in the second quarter. Quarry LP now owns 1,337 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 913 shares during the period. Creative Planning grew its position in shares of WesBanco by 18.4% in the 2nd quarter. Creative Planning now owns 31,797 shares of the financial services provider's stock valued at $887,000 after purchasing an additional 4,945 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of WesBanco by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 31,003 shares of the financial services provider's stock worth $865,000 after buying an additional 1,410 shares in the last quarter. Millennium Management LLC boosted its holdings in WesBanco by 466.7% during the second quarter. Millennium Management LLC now owns 152,858 shares of the financial services provider's stock worth $4,266,000 after purchasing an additional 125,883 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of WesBanco by 8.2% in the second quarter. AQR Capital Management LLC now owns 75,616 shares of the financial services provider's stock valued at $2,110,000 after buying an additional 5,747 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors.

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.