WesBanco (NASDAQ:WSBC) Price Target Raised to $38.00 at Hovde Group

WesBanco (NASDAQ:WSBC) had its price target raised by Hovde Group from $34.00 to $38.00 in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on WSBC. Stephens dropped their target price on shares of WesBanco from $30.00 to $27.00 and set an equal weight rating for the company in a report on Thursday, April 25th. Royal Bank of Canada reissued a sector perform rating and set a $32.00 price objective on shares of WesBanco in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, WesBanco currently has a consensus rating of Hold and an average price target of $33.67.

WesBanco Trading Down 0.8 %

Shares of WesBanco stock opened at $31.88 on Monday. The company has a market capitalization of $1.89 billion, a P/E ratio of 13.28 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.91 and a current ratio of 0.91. The company has a fifty day moving average of $28.49 and a 200 day moving average of $28.64. WesBanco has a fifty-two week low of $23.00 and a fifty-two week high of $34.85.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $234.35 million during the quarter, compared to the consensus estimate of $148.40 million. WesBanco had a return on equity of 5.92% and a net margin of 15.22%. During the same period in the prior year, the company posted $0.71 EPS. On average, sell-side analysts anticipate that WesBanco will post 2.21 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Friday, June 7th. WesBanco’s dividend payout ratio is 60.00%.

Institutional Trading of WesBanco

Several hedge funds have recently made changes to their positions in the business. Smithfield Trust Co raised its position in shares of WesBanco by 0.9% during the 1st quarter. Smithfield Trust Co now owns 49,575 shares of the financial services provider’s stock valued at $1,478,000 after buying an additional 423 shares in the last quarter. Founders Financial Securities LLC raised its position in shares of WesBanco by 6.1% during the 1st quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock valued at $227,000 after buying an additional 436 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of WesBanco by 3.9% during the 2nd quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock valued at $485,000 after buying an additional 647 shares in the last quarter. US Bancorp DE raised its position in shares of WesBanco by 1.0% during the 4th quarter. US Bancorp DE now owns 63,263 shares of the financial services provider’s stock valued at $1,985,000 after buying an additional 657 shares in the last quarter. Finally, Bridge City Capital LLC raised its position in shares of WesBanco by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock valued at $2,522,000 after buying an additional 663 shares in the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

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.