WesBanco (NASDAQ:WSBC) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of WesBanco (NASDAQ:WSBC – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Several other research firms have also commented on WSBC. Raymond James reissued a market perform rating on shares of WesBanco in a research note on Thursday, December 22nd. Piper Sandler dropped their price objective on shares of WesBanco from $41.00 to $38.00 and set a neutral rating on the stock in a research note on Thursday, January 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $34.67.

WesBanco Price Performance

Shares of NASDAQ:WSBC opened at $31.04 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.43. WesBanco has a fifty-two week low of $29.50 and a fifty-two week high of $41.37. The firm has a 50-day simple moving average of $36.15 and a 200 day simple moving average of $36.98. The company has a market cap of $1.84 billion, a PE ratio of 10.21 and a beta of 0.92.

WesBanco (NASDAQ:WSBC – Get Rating) last posted its earnings results on Tuesday, January 24th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $176.69 million during the quarter, compared to analyst estimates of $159.97 million. WesBanco had a net margin of 30.44% and a return on equity of 8.36%. During the same period in the previous year, the business posted $0.82 EPS. On average, sell-side analysts anticipate that WesBanco will post 3.26 EPS for the current year.

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Thursday, March 9th. WesBanco’s dividend payout ratio is currently 46.05%.

Institutional Trading of WesBanco

Several large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its holdings in shares of WesBanco by 2,127.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,552 shares of the financial services provider’s stock worth $279,000 after buying an additional 7,213 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of WesBanco by 2.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,824,176 shares of the financial services provider’s stock worth $67,458,000 after buying an additional 47,398 shares during the period. Truist Financial Corp boosted its holdings in shares of WesBanco by 11.8% during the 4th quarter. Truist Financial Corp now owns 20,183 shares of the financial services provider’s stock worth $746,000 after buying an additional 2,133 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of WesBanco by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 66,814 shares of the financial services provider’s stock worth $2,471,000 after buying an additional 1,848 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new stake in shares of WesBanco during the 4th quarter worth $50,000. 58.78% of the stock is owned by institutional investors.

WesBanco Company Profile

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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.