WesBanco, Inc. (NASDAQ:WSBC) Receives Average Rating of "Hold" from Brokerages

Shares of WesBanco, Inc. (NASDAQ:WSBC – Get Free Report) have been given a consensus recommendation of “Hold” by the five research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating. The average 12-month price target among brokerages that have covered the stock in the last year is $32.17.

WSBC has been the topic of a number of analyst reports. StockNews.com upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a research report on Monday. Piper Sandler increased their price target on WesBanco from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st.

Read Our Latest Report on WSBC

WesBanco Stock Performance

NASDAQ:WSBC opened at $25.35 on Thursday. The stock has a 50 day simple moving average of $26.51 and a 200 day simple moving average of $28.25. The stock has a market cap of $1.50 billion, a P/E ratio of 8.26 and a beta of 0.91. WesBanco has a 1-year low of $19.84 and a 1-year high of $41.37. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.72.

WesBanco (NASDAQ:WSBC – Get Free Report) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. WesBanco had a return on equity of 8.49% and a net margin of 26.04%. The company had revenue of $153.41 million during the quarter, compared to the consensus estimate of $151.14 million. During the same quarter last year, the firm earned $0.67 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Research analysts anticipate that WesBanco will post 2.61 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.40 annualized dividend and a dividend yield of 5.52%. WesBanco’s dividend payout ratio is 45.60%.

Insider Activity at WesBanco

In other WesBanco news, Director Gregory S. Proctor, Jr. bought 3,500 shares of WesBanco stock in a transaction on Thursday, June 8th. The shares were purchased at an average price of $28.08 per share, with a total value of $98,280.00. Following the acquisition, the director now owns 41,913 shares in the company, valued at approximately $1,176,917.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WesBanco

Hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. increased its position in WesBanco by 49.9% during the 2nd quarter. Osaic Holdings Inc. now owns 51,811 shares of the financial services provider’s stock worth $1,327,000 after purchasing an additional 17,248 shares in the last quarter. Legato Capital Management LLC increased its holdings in shares of WesBanco by 30.4% during the second quarter. Legato Capital Management LLC now owns 26,472 shares of the financial services provider’s stock worth $678,000 after buying an additional 6,169 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of WesBanco by 29.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 488,466 shares of the financial services provider’s stock valued at $12,510,000 after acquiring an additional 110,397 shares during the last quarter. Bridge City Capital LLC boosted its holdings in shares of WesBanco by 30.5% during the 2nd quarter. Bridge City Capital LLC now owns 74,534 shares of the financial services provider’s stock valued at $1,909,000 after acquiring an additional 17,427 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in WesBanco by 0.6% during the 2nd quarter. Wells Fargo & Company MN now owns 369,667 shares of the financial services provider’s stock worth $9,467,000 after acquiring an additional 2,163 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About WesBanco

(Get Free Report

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services.