WesBanco (NASDAQ:WSBC) Price Target Raised to $35.00

WesBanco (NASDAQ:WSBC) had its target price hoisted by B. Riley from $34.00 to $35.00 in a research note issued to investors on Wednesday morning, The Fly reports. B. Riley also issued estimates for WesBanco’s Q4 2021 earnings at $0.83 EPS, FY2021 earnings at $3.55 EPS, Q2 2022 earnings at $0.62 EPS, Q3 2022 earnings at $0.60 EPS, Q4 2022 earnings at $0.66 EPS, FY2022 earnings at $2.50 EPS, Q1 2023 earnings at $0.62 EPS, Q2 2023 earnings at $0.65 EPS, Q3 2023 earnings at $0.67 EPS, Q4 2023 earnings at $0.71 EPS and FY2023 earnings at $2.65 EPS.

Several other brokerages have also issued reports on WSBC. Boenning Scattergood reaffirmed a neutral rating on shares of WesBanco in a report on Wednesday, September 29th. Zacks Investment Research raised shares of WesBanco from a hold rating to a buy rating and set a $39.00 price target on the stock in a report on Tuesday, January 4th. Finally, Royal Bank of Canada lifted their price target on shares of WesBanco from $36.00 to $38.00 and gave the company a sector perform rating in a report on Wednesday, September 29th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $38.00.

WSBC stock opened at $38.24 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15. WesBanco has a 12 month low of $28.65 and a 12 month high of $39.87. The firm has a market cap of $2.42 billion, a P/E ratio of 11.08 and a beta of 1.03. The company’s 50-day moving average price is $35.07 and its two-hundred day moving average price is $34.40.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, October 26th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $148.03 million for the quarter, compared to the consensus estimate of $146.23 million. WesBanco had a net margin of 37.95% and a return on equity of 9.23%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. Equities analysts predict that WesBanco will post 3.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Investors of record on Friday, December 10th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, December 9th. This represents a $1.32 annualized dividend and a yield of 3.45%. WesBanco’s dividend payout ratio is presently 38.26%.

In related news, Director F Eric Nelson, Jr. sold 1,196 shares of WesBanco stock in a transaction that occurred on Wednesday, December 22nd. The shares were sold at an average price of $33.46, for a total transaction of $40,018.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen J. Callen purchased 5,000 shares of the company’s stock in a transaction dated Monday, December 20th. The stock was purchased at an average price of $32.72 per share, for a total transaction of $163,600.00. The disclosure for this purchase can be found here. 3.13% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Truist Financial Corp lifted its position in shares of WesBanco by 2.8% in the 3rd quarter. Truist Financial Corp now owns 11,009 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 297 shares during the period. Huntington National Bank lifted its position in shares of WesBanco by 1.2% in the 3rd quarter. Huntington National Bank now owns 27,936 shares of the financial services provider’s stock worth $952,000 after purchasing an additional 329 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of WesBanco by 1.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 29,659 shares of the financial services provider’s stock worth $1,038,000 after purchasing an additional 433 shares during the period. M&T Bank Corp lifted its position in shares of WesBanco by 6.5% in the 2nd quarter. M&T Bank Corp now owns 7,806 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 476 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of WesBanco by 1.2% during the 2nd quarter. Franklin Resources Inc. now owns 43,200 shares of the financial services provider’s stock valued at $1,539,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 60.06% of the company’s stock.

About WesBanco

WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.

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