WesBanco, Inc. (NASDAQ:WSBC) Receives Average Recommendation of "Moderate Buy" from Brokerages

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $38.67.

Several research analysts have recently weighed in on WSBC shares. Stephens reissued an "equal weight" rating and issued a $39.00 price objective on shares of WesBanco in a research report on Thursday. StockNews.com raised WesBanco from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Raymond James raised shares of WesBanco from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $35.00 to $44.00 in a research report on Friday, December 6th.

Insider Activity

In related news, EVP Michael L. Perkins sold 1,125 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the transaction, the executive vice president now owns 46,817 shares of the company's stock, valued at approximately $1,632,508.79. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.44% of the company's stock.

Institutional Trading of WesBanco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WSBC. American Century Companies Inc. grew its holdings in WesBanco by 12.3% during the second quarter. American Century Companies Inc. now owns 99,418 shares of the financial services provider's stock worth $2,775,000 after buying an additional 10,927 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of WesBanco by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 227,429 shares of the financial services provider's stock worth $6,348,000 after acquiring an additional 6,043 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of WesBanco by 42.2% in the second quarter. Renaissance Technologies LLC now owns 50,525 shares of the financial services provider's stock valued at $1,410,000 after purchasing an additional 15,000 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of WesBanco by 8.2% during 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 purchasing an additional 5,747 shares in the last quarter. Finally, 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. 61.41% of the stock is owned by institutional investors.

WesBanco Trading Up 2.2 %

NASDAQ:WSBC traded up $0.73 on Friday, reaching $34.16. 551,405 shares of the stock traded hands, compared to its average volume of 402,667. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco has a 1-year low of $25.56 and a 1-year high of $37.36. The company's 50 day moving average is $33.72 and its 200-day moving average is $32.09. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 15.25 and a beta of 0.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. Equities research analysts anticipate that WesBanco will post 3.09 EPS for the current fiscal year.

WesBanco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Friday, December 6th. This is a boost from WesBanco's previous quarterly dividend of $0.36. WesBanco's dividend payout ratio (DPR) is 66.07%.

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.