WesBanco, Inc. (NASDAQ:WSBC) Receives $39.50 Average PT from Analysts

Shares of WesBanco, Inc. (NASDAQ:WSBC) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $39.50.

A number of analysts have weighed in on the company. Piper Sandler decreased their price target on WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. DA Davidson reiterated a “buy” rating and set a $41.00 price target on shares of WesBanco in a report on Wednesday, April 22nd. Weiss Ratings upgraded WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Zacks Research downgraded WesBanco from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $41.00 price target on shares of WesBanco in a report on Thursday, March 12th.

Insider Activity

In other news, Director Lee J. Burdman bought 3,000 shares of WesBanco stock in a transaction dated Thursday, April 23rd. The stock was bought at an average cost of $33.60 per share, for a total transaction of $100,800.00. Following the purchase, the director directly owned 46,772 shares in the company, valued at approximately $1,571,539.20. This represents a 6.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Louis Michael Altman bought 3,000 shares of WesBanco stock in a transaction dated Thursday, April 23rd. The stock was purchased at an average price of $33.72 per share, with a total value of $101,160.00. Following the completion of the purchase, the director owned 33,164 shares in the company, valued at $1,118,290.08. This trade represents a 9.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 7,940 shares of company stock worth $267,299 in the last three months. Company insiders own 2.07% of the company’s stock.

Institutional Trading of WesBanco

Several large investors have recently made changes to their positions in WSBC. Covestor Ltd grew its stake in shares of WesBanco by 12,500.0% in the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock valued at $25,000 after buying an additional 750 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of WesBanco by 255.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock valued at $26,000 after buying an additional 574 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of WesBanco in the 4th quarter valued at about $29,000. GAMMA Investing LLC grew its stake in shares of WesBanco by 41.1% in the 4th quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock valued at $37,000 after buying an additional 324 shares during the period. Finally, First Horizon Corp grew its stake in shares of WesBanco by 55.4% in the 4th quarter. First Horizon Corp now owns 1,302 shares of the financial services provider’s stock valued at $43,000 after buying an additional 464 shares during the period. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Stock Performance

Shares of WesBanco stock opened at $34.56 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $34.36 and a two-hundred day moving average price of $34.22. WesBanco has a 1-year low of $29.18 and a 1-year high of $38.10. The company has a market cap of $3.32 billion, a P/E ratio of 11.15 and a beta of 0.69.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The firm had revenue of $257.23 million during the quarter, compared to the consensus estimate of $264.52 million. During the same period last year, the business posted $0.66 EPS. The business’s revenue was down 3.1% compared to the same quarter last year. As a group, analysts anticipate that WesBanco will post 3.59 EPS for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a $0.38 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.4%. WesBanco’s dividend payout ratio (DPR) is currently 49.03%.

WesBanco announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 20th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.