WesBanco’s (WSBC) Hold (C) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c) rating on shares of WesBanco (NASDAQ:WSBC) in a research report report published on Friday morning,Weiss Ratings reports.

Several other brokerages have also issued reports on WSBC. DA Davidson lowered shares of WesBanco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Royal Bank Of Canada raised their target price on shares of WesBanco from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. Finally, Wall Street Zen downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, WesBanco presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

WesBanco Stock Up 2.0%

Shares of NASDAQ WSBC opened at $31.31 on Friday. The firm has a market capitalization of $3.01 billion, a PE ratio of 15.97 and a beta of 0.85. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. WesBanco has a 1 year low of $26.42 and a 1 year high of $37.36. The firm’s 50-day moving average is $32.10 and its 200-day moving average is $31.31.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.05. The company had revenue of $261.58 million for the quarter, compared to analyst estimates of $263.38 million. WesBanco had a net margin of 13.91% and a return on equity of 8.55%. During the same quarter last year, the firm earned $0.54 EPS. Equities analysts expect that WesBanco will post 3.24 EPS for the current year.

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.7%. The ex-dividend date was Friday, September 5th. WesBanco’s dividend payout ratio (DPR) is 75.51%.

Insider Activity

In related news, Director Gregory S. Proctor, Jr. bought 2,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the acquisition, the director owned 2,000 shares of the company’s stock, valued at approximately $50,000. This represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO K Weiss Daniel bought 4,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were bought at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the chief financial officer directly owned 4,000 shares in the company, valued at approximately $100,000. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 49,600 shares of company stock worth $1,240,000. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of WesBanco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. acquired a new stake in shares of WesBanco in the first quarter valued at approximately $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of WesBanco in the second quarter valued at approximately $26,000. Smartleaf Asset Management LLC grew its stake in shares of WesBanco by 132.5% in the first quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider’s stock valued at $28,000 after buying an additional 510 shares in the last quarter. True Wealth Design LLC grew its stake in shares of WesBanco by 77.9% in the third quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock valued at $28,000 after buying an additional 384 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV bought a new position in shares of WesBanco in the first quarter valued at $48,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

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.