Analysts Set WesBanco, Inc. (NASDAQ:WSBC) PT at $33.71

Shares of WesBanco, Inc. (NASDAQ:WSBC) have been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $34.71.

Several equities analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of WesBanco from $32.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Hovde Group boosted their target price on WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. DA Davidson raised their price target on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price objective on WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Finally, Stephens raised their target price on shares of WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday.

Insider Buying and Selling at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total transaction of $161,908.97. Following the sale, the executive vice president now owns 46,817 shares of the company’s stock, valued at approximately $1,413,405.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.44% of the stock is owned by insiders.

Institutional Trading of WesBanco

Large investors have recently bought and sold shares of the business. Quest Partners LLC lifted its holdings in WesBanco by 36,806.5% during the 2nd quarter. Quest Partners LLC now owns 16,977 shares of the financial services provider’s stock worth $474,000 after buying an additional 16,931 shares during the last quarter. Rhumbline Advisers boosted its holdings in WesBanco by 1.3% in the second quarter. Rhumbline Advisers now owns 98,255 shares of the financial services provider’s stock valued at $2,742,000 after purchasing an additional 1,265 shares in the last quarter. International Assets Investment Management LLC purchased a new position in WesBanco in the second quarter valued at approximately $91,000. Signaturefd LLC raised its holdings in WesBanco by 214.5% during the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 944 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of WesBanco during the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Stock Down 0.8 %

WSBC stock opened at $30.03 on Friday. The stock has a 50-day simple moving average of $28.78 and a two-hundred day simple moving average of $28.69. WesBanco has a twelve month low of $23.00 and a twelve month high of $34.85. The firm has a market capitalization of $1.78 billion, a PE ratio of 12.51 and a beta of 0.84. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.58.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $234.35 million during the quarter, compared to analysts’ expectations of $148.40 million. WesBanco had a return on equity of 5.92% and a net margin of 15.22%. During the same quarter last year, the business posted $0.71 EPS. On average, equities analysts predict that WesBanco will post 2.1 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.80%. The ex-dividend date was Friday, June 7th. WesBanco’s payout ratio is 60.00%.

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, 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.