WesBanco, Inc. (NASDAQ:WSBC) Receives Consensus Rating of “Hold” from Analysts

Shares of WesBanco, Inc. (NASDAQ:WSBC) have been assigned a consensus recommendation of “Hold” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $29.60.

Several analysts have issued reports on WSBC shares. Royal Bank of Canada dropped their price target on shares of WesBanco from $30.00 to $28.00 in a research report on Tuesday, October 10th. StockNews.com started coverage on shares of WesBanco in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Piper Sandler dropped their price target on shares of WesBanco from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, October 30th. Finally, Hovde Group raised shares of WesBanco from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 13th.

Hedge Funds Weigh In On WesBanco

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC grew its stake in shares of WesBanco by 384.3% in the second quarter. Lindbrook Capital LLC now owns 1,046 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 830 shares in the last quarter. Quarry LP acquired a new position in shares of WesBanco in the first quarter valued at about $35,000. Ancora Advisors LLC acquired a new position in shares of WesBanco in the first quarter valued at about $43,000. Resurgent Financial Advisors LLC acquired a new position in shares of WesBanco in the fourth quarter valued at about $50,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of WesBanco by 552.6% in the first quarter. Tower Research Capital LLC TRC now owns 1,625 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,376 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Stock Down 0.7 %

NASDAQ:WSBC opened at $27.46 on Tuesday. WesBanco has a twelve month low of $19.84 and a twelve month high of $40.87. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 9.81 and a beta of 0.89. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average price is $24.82 and its two-hundred day moving average price is $25.45.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). WesBanco had a return on equity of 7.76% and a net margin of 22.39%. The firm had revenue of $214.47 million for the quarter, compared to the consensus estimate of $149.29 million. During the same period last year, the company posted $0.85 earnings per share. Equities research analysts expect that WesBanco will post 2.57 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a $0.36 dividend. This is an increase from WesBanco’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 5.24%. The ex-dividend date is Thursday, December 7th. WesBanco’s payout ratio is currently 50.00%.

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, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services.