WesBanco, Inc. (NASDAQ:WSBC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of WesBanco, Inc. (NASDAQ:WSBC) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $36.17.

Several equities analysts recently issued reports on the stock. DA Davidson lifted their price target on shares of WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a report on Monday, July 29th. Stephens lifted their target price on shares of WesBanco from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Royal Bank of Canada restated a “sector perform” rating and set a $35.00 price target on shares of WesBanco in a research report on Monday, September 9th. Hovde Group lifted their price objective on WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods increased their target price on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st.

Insider Activity at WesBanco

In related news, EVP Michael L. Perkins sold 1,125 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $34.87, for a total transaction of $39,228.75. Following the completion of the transaction, the executive vice president now directly owns 46,817 shares in the company, valued at approximately $1,632,508.79. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WesBanco

A number of large investors have recently bought and sold shares of WSBC. Quarry LP lifted its position in shares of WesBanco by 215.3% in the second quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 913 shares in the last quarter. Signaturefd LLC lifted its position in WesBanco by 214.5% during the 2nd quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock worth $39,000 after buying an additional 944 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of WesBanco during the 2nd quarter worth about $53,000. CWM LLC grew its holdings in shares of WesBanco by 175.2% in the 3rd quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,319 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in WesBanco during the third quarter worth about $80,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Stock Down 0.2 %

NASDAQ WSBC opened at $35.80 on Friday. WesBanco has a 1-year low of $25.56 and a 1-year high of $36.87. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average is $31.13 and its two-hundred day moving average is $29.85. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 17.13 and a beta of 0.81.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. WesBanco had a return on equity of 5.75% and a net margin of 14.79%. The firm had revenue of $243.34 million during the quarter, compared to analyst estimates of $152.40 million. During the same period in the prior year, the company posted $0.59 earnings per share. Equities analysts forecast that WesBanco will post 2.14 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $0.36 per share. The ex-dividend date was Friday, September 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.02%. WesBanco’s payout ratio is currently 68.90%.

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.