Piper Sandler Begins Coverage on WesBanco (NASDAQ:WSBC)

Research analysts at Piper Sandler initiated coverage on shares of WesBanco (NASDAQ:WSBC - Get Free Report) in a note issued to investors on Thursday, MarketBeat reports. The firm set an "overweight" rating and a $37.00 price target on the financial services provider's stock. Piper Sandler's target price indicates a potential upside of 33.92% from the stock's previous close.

A number of other brokerages also recently issued reports on WSBC. Keefe, Bruyette & Woods raised shares of WesBanco from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $40.00 to $44.00 in a research report on Monday, February 10th. DA Davidson boosted their price target on shares of WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Stephens reissued an "equal weight" rating and issued a $39.00 price target on shares of WesBanco in a research note on Thursday, January 23rd. StockNews.com raised WesBanco from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Finally, Raymond James decreased their target price on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, WesBanco currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.43.

Remove Ads

WesBanco Trading Down 0.3 %

Shares of WesBanco stock traded down $0.08 during trading on Thursday, reaching $27.63. 190,399 shares of the stock were exchanged, compared to its average volume of 385,325. WesBanco has a 1 year low of $25.56 and a 1 year high of $37.36. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 12.26 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock's fifty day moving average is $33.44 and its 200 day moving average is $32.94.

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

Institutional Investors Weigh In On WesBanco

Several hedge funds have recently added to or reduced their stakes in WSBC. Wellington Management Group LLP purchased a new position in shares of WesBanco in the 3rd quarter worth about $116,114,000. Vanguard Group Inc. raised its holdings in WesBanco by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock worth $218,361,000 after buying an additional 705,483 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of WesBanco by 27.1% in the fourth quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider's stock worth $57,824,000 after buying an additional 379,386 shares in the last quarter. Barclays PLC grew its holdings in shares of WesBanco by 104.8% during the fourth quarter. Barclays PLC now owns 371,347 shares of the financial services provider's stock valued at $12,084,000 after buying an additional 190,022 shares during the last quarter. Finally, MCF Advisors LLC increased its position in shares of WesBanco by 17,801.0% during the fourth quarter. MCF Advisors LLC now owns 170,955 shares of the financial services provider's stock valued at $5,626,000 after acquiring an additional 170,000 shares in the last quarter. 61.41% of the stock is 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.