Raymond James Issues Pessimistic Forecast for WesBanco (NASDAQ:WSBC) Stock Price

WesBanco (NASDAQ:WSBC - Free Report) had its price target trimmed by Raymond James from $44.00 to $38.00 in a report released on Wednesday,Benzinga reports. The firm currently has a strong-buy rating on the financial services provider's stock.

WSBC has been the topic of several other reports. DA Davidson lifted their price target on shares of WesBanco from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods raised shares of WesBanco from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $40.00 to $44.00 in a research note on Monday, February 10th. Stephens reaffirmed an "equal weight" rating and set a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.43.

Remove Ads

WesBanco Price Performance

Shares of NASDAQ:WSBC traded down $0.09 during trading on Wednesday, reaching $27.71. The company had a trading volume of 887,244 shares, compared to its average volume of 386,028. WesBanco has a 12 month low of $25.56 and a 12 month high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.85 billion, a P/E ratio of 12.37 and a beta of 0.76. The company has a fifty day moving average of $33.59 and a two-hundred day moving average of $32.97.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. Equities research analysts forecast that WesBanco will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.34%. WesBanco's dividend payout ratio is presently 66.07%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC boosted its stake in shares of WesBanco by 3.0% during the 3rd quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider's stock valued at $895,000 after purchasing an additional 867 shares in the last quarter. FMR LLC boosted its position in WesBanco by 25.8% during the 3rd quarter. FMR LLC now owns 695,487 shares of the financial services provider's stock valued at $20,712,000 after acquiring an additional 142,597 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of WesBanco by 2,061.7% during the 3rd quarter. Quantbot Technologies LP now owns 12,603 shares of the financial services provider's stock worth $375,000 after acquiring an additional 12,020 shares during the period. BNP Paribas Financial Markets raised its position in shares of WesBanco by 21.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,380 shares of the financial services provider's stock worth $637,000 after acquiring an additional 3,844 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of WesBanco in the 3rd quarter valued at approximately $296,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

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.