WesBanco (NASDAQ:WSBC) Sets New 12-Month High at $32.64

Shares of WesBanco, Inc. (NASDAQ:WSBC) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $32.64 and last traded at $32.64, with a volume of 8086 shares. The stock had previously closed at $32.07.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stephens dropped their price target on WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Hovde Group cut their price objective on shares of WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $32.00 target price on shares of WesBanco in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.60.

WesBanco Trading Up 2.1 %

The stock has a market capitalization of $1.94 billion, a P/E ratio of 13.36 and a beta of 0.84. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $27.65 and a two-hundred day moving average price of $28.46.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. WesBanco had a net margin of 17.52% and a return on equity of 6.50%. The firm had revenue of $225.96 million for the quarter, compared to the consensus estimate of $147.81 million. During the same period in the prior year, the company posted $0.71 earnings per share. On average, analysts expect that WesBanco, Inc. will post 2.21 EPS for the current fiscal year.

WesBanco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.40%. The ex-dividend date was Friday, June 7th. WesBanco’s payout ratio is 60.00%.

Institutional Trading of WesBanco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DiNuzzo Private Wealth Inc. bought a new stake in shares of WesBanco in the fourth quarter worth $31,000. Principal Securities Inc. acquired a new position in shares of WesBanco in the fourth quarter worth approximately $43,000. Sound Income Strategies LLC increased its position in WesBanco by 2,688.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,425 shares during the period. TFO Wealth Partners LLC lifted its position in shares of WesBanco by 26,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 3,144 shares during the period. Finally, Comerica Bank increased its position in shares of WesBanco by 27.5% during the first quarter. Comerica Bank now owns 5,382 shares of the financial services provider’s stock worth $160,000 after buying an additional 1,162 shares during the period. Institutional investors 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.