Keefe, Bruyette & Woods Cuts WesBanco (NASDAQ:WSBC) Price Target to $40.00

WesBanco (NASDAQ:WSBC) had its price target trimmed by Keefe, Bruyette & Woods from $43.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on WSBC. Piper Sandler started coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an “overweight” rating and a $37.00 target price for the company. Royal Bank of Canada cut their price objective on WesBanco from $36.00 to $34.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Raymond James cut their price target on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, WesBanco currently has an average rating of “Moderate Buy” and a consensus target price of $38.71.

WesBanco Price Performance

Shares of NASDAQ:WSBC opened at $30.27 on Monday. WesBanco has a 12 month low of $25.56 and a 12 month high of $37.36. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 13.51 and a beta of 0.81. The business’s 50 day simple moving average is $30.19 and its 200-day simple moving average is $32.72. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million for the quarter, compared to analyst estimates of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same quarter in the prior year, the company earned $0.56 earnings per share. As a group, equities analysts forecast that WesBanco will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.89%. The ex-dividend date was Monday, March 10th. WesBanco’s dividend payout ratio (DPR) is presently 96.73%.

Institutional Trading of WesBanco

Large investors have recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in WesBanco during the 4th quarter valued at $328,000. Franklin Resources Inc. acquired a new stake in shares of WesBanco during the third quarter valued at about $1,148,000. Inspire Advisors LLC increased its position in shares of WesBanco by 18.7% during the fourth quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider’s stock worth $2,056,000 after acquiring an additional 9,955 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new position in shares of WesBanco in the fourth quarter worth about $323,000. Finally, Magnolia Private Wealth LLC purchased a new position in WesBanco in the fourth quarter valued at about $269,000. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.