WesBanco, Inc. (NASDAQ:WSBC) Given Average Recommendation of “Buy” by Brokerages
by Danessa Lincoln · The Markets DailyWesBanco, Inc. (NASDAQ:WSBC – Get Free Report) has earned an average rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $40.60.
A number of research analysts have recently commented on WSBC shares. Raymond James Financial restated a “strong-buy” rating and set a $41.00 price target on shares of WesBanco in a research report on Thursday, March 12th. DA Davidson started coverage on shares of WesBanco in a research report on Wednesday, February 25th. They set a “buy” rating and a $44.00 price target for the company. Weiss Ratings upgraded shares of WesBanco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. Finally, Piper Sandler started coverage on shares of WesBanco in a research report on Wednesday, December 17th. They set an “overweight” rating and a $42.00 price target for the company.
Read Our Latest Stock Analysis on WSBC
Institutional Trading of WesBanco
Hedge funds have recently made changes to their positions in the stock. Covestor Ltd lifted its holdings in shares of WesBanco by 12,500.0% during the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 750 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of WesBanco by 255.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 574 shares during the last quarter. First Horizon Corp bought a new stake in shares of WesBanco during the 3rd quarter worth $27,000. Hilton Head Capital Partners LLC bought a new stake in shares of WesBanco during the 4th quarter worth $29,000. Finally, True Wealth Design LLC lifted its holdings in shares of WesBanco by 77.9% during the 3rd quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 384 shares during the last quarter. 61.41% of the stock is owned by institutional investors.
WesBanco Stock Up 0.0%
WSBC opened at $35.10 on Wednesday. The company has a fifty day moving average price of $35.07 and a 200-day moving average price of $33.57. The firm has a market capitalization of $3.37 billion, a P/E ratio of 16.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.92 and a quick ratio of 0.92. WesBanco has a one year low of $26.42 and a one year high of $38.10.
WesBanco (NASDAQ:WSBC – Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.84 EPS for the quarter, meeting analysts’ consensus estimates of $0.84. The firm had revenue of $265.78 million during the quarter, compared to analyst estimates of $265.53 million. WesBanco had a net margin of 15.51% and a return on equity of 8.81%. During the same period in the previous year, the business earned $0.71 EPS. Equities research analysts expect that WesBanco will post 3.24 earnings per share for the current fiscal year.
WesBanco Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, March 6th. WesBanco’s payout ratio is currently 73.43%.
WesBanco Company Profile
WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.
In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.