WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $31.70 and traded as high as $32.64. WesBanco shares last traded at $32.05, with a volume of 429,905 shares trading hands.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $35.00 price target on shares of WesBanco in a research report on Monday, September 9th. Stephens upped their target price on WesBanco from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Monday, October 28th. Finally, Raymond James raised shares of WesBanco from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $35.00 to $44.00 in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, WesBanco has an average rating of "Moderate Buy" and a consensus target price of $37.83.
Read Our Latest Research Report on WesBanco
WesBanco Price Performance
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 fifty day simple moving average of $34.29 and a 200-day simple moving average of $31.74. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 15.15 and a beta of 0.85.
WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. The business had revenue of $243.34 million during the quarter, compared to analyst estimates of $152.40 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. As a group, equities research analysts expect that WesBanco, Inc. will post 2.14 EPS for the current 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 given a $0.37 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.67%. This is an increase from WesBanco's previous quarterly dividend of $0.36. WesBanco's dividend payout ratio (DPR) is currently 70.81%.
Insider Transactions at WesBanco
In other news, EVP Michael L. Perkins sold 1,125 shares of WesBanco stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $34.87, for a total transaction of $39,228.75. Following the sale, the executive vice president now directly owns 46,817 shares in the company, valued at approximately $1,632,508.79. The trade was a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.44% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in shares of WesBanco by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 98,255 shares of the financial services provider's stock valued at $2,742,000 after purchasing an additional 1,265 shares during the period. Quest Partners LLC raised its stake in WesBanco by 36,806.5% during the second quarter. Quest Partners LLC now owns 16,977 shares of the financial services provider's stock worth $474,000 after acquiring an additional 16,931 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of WesBanco by 12.3% during the second quarter. American Century Companies Inc. now owns 99,418 shares of the financial services provider's stock valued at $2,775,000 after acquiring an additional 10,927 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of WesBanco by 41.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 45,779 shares of the financial services provider's stock valued at $1,278,000 after purchasing an additional 13,414 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings 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 purchasing an additional 6,043 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company's stock.
About WesBanco
(
Get Free Report)
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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