WesBanco (NASDAQ:WSBC) Price Target Raised to $45.00 at DA Davidson

WesBanco (NASDAQ:WSBC - Get Free Report) had its price objective increased by equities researchers at DA Davidson from $44.00 to $45.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. DA Davidson's target price would suggest a potential upside of 27.48% from the stock's current price.

A number of other brokerages have also weighed in on WSBC. Raymond James upgraded shares of WesBanco from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $35.00 to $44.00 in a report on Friday, December 6th. Stephens reissued an "equal weight" rating and set a $39.00 price objective on shares of WesBanco in a research report on Thursday. Finally, StockNews.com raised shares of WesBanco from a "sell" rating to a "hold" rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.17.

WesBanco Price Performance

NASDAQ:WSBC traded up $1.14 during mid-day trading on Monday, hitting $35.30. 838,246 shares of the stock traded hands, compared to its average volume of 428,732. The business's 50-day moving average price is $33.72 and its 200 day moving average price is $32.15. The company has a market cap of $2.36 billion, a PE ratio of 15.76 and a beta of 0.85. WesBanco has a 12-month low of $25.56 and a 12-month high of $37.36. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. On average, analysts expect that WesBanco will post 3.09 EPS for the current fiscal year.

Insider Buying and Selling

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of WesBanco stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $34.87, for a total transaction of $39,228.75. Following the transaction, the executive vice president now owns 46,817 shares of the company's stock, valued at $1,632,508.79. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WesBanco

Several large investors have recently added to or reduced their stakes in WSBC. Envestnet Asset Management Inc. lifted its holdings in WesBanco by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 227,429 shares of the financial services provider's stock valued at $6,348,000 after purchasing an additional 6,043 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of WesBanco by 42.2% during the second quarter. Renaissance Technologies LLC now owns 50,525 shares of the financial services provider's stock valued at $1,410,000 after buying an additional 15,000 shares during the last quarter. AQR Capital Management LLC raised 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 buying an additional 5,747 shares during the last quarter. Millennium Management LLC raised its position in shares of WesBanco by 466.7% during the second quarter. Millennium Management LLC now owns 152,858 shares of the financial services provider's stock valued at $4,266,000 after buying an additional 125,883 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position 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 valued at $865,000 after buying an additional 1,410 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company's stock.

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.

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