Hovde Group Trims WesBanco (NASDAQ:WSBC) Target Price to $34.00

WesBanco (NASDAQ:WSBC) had its price objective trimmed by Hovde Group from $36.00 to $34.00 in a report issued on Wednesday, MarketBeat.com reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada reiterated a sector perform rating and issued a $32.00 target price on shares of WesBanco in a research report on Tuesday, April 9th. Stephens reiterated an equal weight rating and issued a $30.00 target price on shares of WesBanco in a research report on Wednesday. Finally, Raymond James upgraded shares of WesBanco from a market perform rating to an outperform rating and set a $34.00 target price for the company in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $30.60.

WesBanco Stock Down 0.9 %

Shares of NASDAQ:WSBC opened at $27.52 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $1.63 billion, a PE ratio of 11.47 and a beta of 0.86. WesBanco has a 52 week low of $19.84 and a 52 week high of $32.20. The firm has a 50 day simple moving average of $28.60 and a 200 day simple moving average of $28.22.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. The business had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, research analysts expect that WesBanco will post 2.27 earnings per share for the current year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.23%. WesBanco’s dividend payout ratio is currently 60.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WSBC. SG Americas Securities LLC bought a new position in shares of WesBanco during the 3rd quarter valued at $223,000. Denali Advisors LLC acquired a new position in WesBanco in the 3rd quarter valued at $357,000. Bill Few Associates Inc. grew its stake in WesBanco by 12.0% in the 3rd quarter. Bill Few Associates Inc. now owns 12,806 shares of the financial services provider’s stock valued at $313,000 after buying an additional 1,375 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in WesBanco by 38.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,080 shares of the financial services provider’s stock valued at $295,000 after buying an additional 3,361 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in WesBanco by 27.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,519 shares of the financial services provider’s stock valued at $281,000 after buying an additional 2,516 shares during the last quarter. 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.