Shares of WesBanco, Inc. (NASDAQ:WSBC) received a consensus rating of “Hold” from the six research firms that currently cover the stock, MarketBeat.com reports. Four research analysts rated the stock with a hold rating and one gave the company a buy rating. The average 1-year price target among brokers who have covered the stock over the past year is $38.00.
WSBC has been the subject of several recent research reports. Boenning Scattergood reissued a “neutral” rating on WesBanco shares in a Wednesday, September 29 research report. Royal Bank of Canada raised its price target on WesBanco shares from $36.00 to $38.00 and gave the stock an “sector performance” rating in a Wednesday, September 29 research report . Zacks Investment Research moved WesBanco shares from a “hold” rating to a “buy” rating and set a price target of $39.00 on the stock in a research note on Tuesday, January 4. Finally, B. Riley raised his price target on WesBanco shares from $34.00 to $35.00 in a Wednesday, January 12 research note.
Separately, director Stephen J. Callen purchased 5,000 shares of the company in a transaction dated Monday, December 20. The shares were acquired at an average cost of $32.72 per share, with a total value of $163,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, director James W.Cornelsen sold 30,907 shares in a trade that took place on Tuesday, November 23. The shares were sold at an average price of $35.56, for a total transaction of $1,099,052.92. Disclosure of this sale can be found here. 3.13% of the shares are held by insiders.
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A number of hedge funds have recently changed their positions in the business. Truist Financial Corp increased its stake in WesBanco by 2.8% in the third quarter. Truist Financial Corp now owns 11,009 shares of the financial services provider valued at $375,000 after acquiring 297 additional shares in the last quarter. Huntington National Bank increased its stake in WesBanco by 1.2% in the third quarter. Huntington National Bank now owns 27,936 shares of the financial services provider valued at $952,000 after acquiring 329 additional shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in WesBanco by 1.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 29,659 shares of the financial services provider valued at $1,038,000 after acquiring 433 additional shares in the last quarter. M&T Bank Corp increased its stake in WesBanco by 6.5% in the second quarter. M&T Bank Corp now owns 7,806 shares of the financial services provider valued at $278,000 after acquiring 476 additional shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in WesBanco by 1.2% in the second quarter. Franklin Resources Inc. now owns 43,200 shares of the financial services provider valued at $1,539,000 after acquiring an additional 500 shares in the last quarter. 60.06% of the shares are currently held by hedge funds and other institutional investors.
Shares of WSBC opened at $36.24 on Friday. The company has a 50-day simple moving average of $35.21 and a 200-day simple moving average of $34.45. The company has a market capitalization of $2.29 billion, a P/E ratio of 10.50 and a beta of 1.03. The company has a debt ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. WesBanco has a 52-week minimum of $28.65 and a 52-week maximum of $39.87.
WesBanco Inc (NASDAQ:WSBC) last released its quarterly results on Tuesday, October 26. The financial services provider reported earnings per share (EPS) of $0.70 for the quarter, missing Thomson Reuters consensus estimate of $0.77 per ($0.07). WesBanco achieved a return on equity of 9.23% and a net margin of 37.95%. The company posted revenue of $148.03 million in the quarter, versus analyst estimates of $146.23 million. During the same period last year, the company achieved EPS of $0.66. The company’s revenue for the quarter was down 4.6% year over year. As a group, stock analysts expect WesBanco to post earnings per share of 3.45 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 3. Shareholders of record on Friday, December 10 received a dividend of $0.33 per share. The ex-dividend date was Thursday, December 9. This represents an annualized dividend of $1.32 and a yield of 3.64%. WesBanco’s dividend payout ratio is 38.26%.
About WesBanco
WesBanco, Inc is a bank holding company that provides financial services. It operates through the following segments: Community Banking and Trust and Investment Services. The Community Banking segment provides services traditionally offered by commercial service banks, including commercial current accounts, individual current accounts and term deposit accounts, as well as commercial, mortgage and individual installment loans, and some non-traditional offerings, such as insurance and securities brokerage. services.
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