WesBanco (NASDAQ:WSBC) Rating Reiterated by Stephens

Stephens reaffirmed their equal weight rating on shares of WesBanco (NASDAQ:WSBC) in a research report report published on Wednesday, Benzinga reports. They currently have a $30.00 target price on the financial services provider’s stock.

Several other analysts have also recently issued reports on WSBC. Royal Bank of Canada reissued a sector perform rating and set a $32.00 price objective on shares of WesBanco in a research note on Tuesday, April 9th. Raymond James raised shares of WesBanco from a market perform rating to an outperform rating and set a $34.00 price objective for the company in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $30.60.

WesBanco Stock Down 0.9 %

WSBC stock opened at $27.52 on Wednesday. The stock has a market capitalization of $1.63 billion, a P/E ratio of 11.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. WesBanco has a one year low of $19.84 and a one year high of $32.20. The company has a 50 day moving average price of $28.57 and a two-hundred day moving average price of $28.27.

WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $225.96 million during the quarter, compared to analysts’ expectations of $147.81 million. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. During the same period in the previous year, the company earned $0.71 EPS. As a group, sell-side analysts expect that WesBanco will post 2.25 EPS for the current year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.44 annualized dividend and a dividend yield of 5.23%. WesBanco’s payout ratio is 60.00%.

Hedge Funds Weigh In On WesBanco

Several hedge funds and other institutional investors have recently made changes to their positions in WSBC. Raymond James Trust N.A. acquired a new position in WesBanco in the 4th quarter worth $1,196,000. International Assets Investment Management LLC lifted its holdings in WesBanco by 3,037.0% in the 4th quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock worth $3,269,000 after buying an additional 99,280 shares in the last quarter. Denali Advisors LLC acquired a new position in WesBanco in the 3rd quarter worth $357,000. Charles Schwab Investment Management Inc. raised its stake in shares of WesBanco by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 762,966 shares of the financial services provider’s stock valued at $18,632,000 after purchasing an additional 106,300 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of WesBanco by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock valued at $146,019,000 after purchasing an additional 71,928 shares in the last quarter. Institutional investors and hedge funds 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.