Analysts Set WesBanco, Inc. (NASDAQ:WSBC) PT at $39.60

WesBanco, Inc. (NASDAQ:WSBC) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $39.60.

Several research firms recently commented on WSBC. Zacks Research lowered WesBanco from a “hold” rating to a “strong sell” rating in a research note on Tuesday. DA Davidson reiterated a “buy” rating and issued a $41.00 target price on shares of WesBanco in a research note on Wednesday, April 22nd. Piper Sandler dropped their target price on WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings upgraded shares of WesBanco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $41.00 target price on shares of WesBanco in a research report on Thursday, March 12th.

WesBanco Price Performance

NASDAQ:WSBC opened at $34.38 on Friday. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 11.09 and a beta of 0.74. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average is $34.65 and its two-hundred day moving average is $33.89. WesBanco has a 12-month low of $29.18 and a 12-month high of $38.10.

WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $257.23 million for the quarter, compared to analyst estimates of $264.52 million. WesBanco had a net margin of 21.12% and a return on equity of 9.83%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. Research analysts expect that WesBanco will post 3.58 EPS for the current year.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 6th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.52 annualized dividend and a dividend yield of 4.4%. WesBanco’s dividend payout ratio (DPR) is currently 49.03%.

Insider Buying and Selling

In related news, Director Louis Michael Altman bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average cost of $33.72 per share, with a total value of $101,160.00. Following the completion of the transaction, the director owned 33,164 shares of the company’s stock, valued at approximately $1,118,290.08. The trade was a 9.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lee J. Burdman bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average cost of $33.60 per share, for a total transaction of $100,800.00. Following the completion of the transaction, the director directly owned 46,772 shares of the company’s stock, valued at approximately $1,571,539.20. The trade was a 6.85% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 7,940 shares of company stock valued at $267,299. Insiders own 2.07% of the company’s stock.

Institutional Investors Weigh In On WesBanco

Hedge funds have recently modified their holdings of the stock. Algebris UK Ltd. acquired a new stake in shares of WesBanco in the third quarter worth approximately $19,863,000. Citigroup Inc. lifted its position in WesBanco by 14.2% during the third quarter. Citigroup Inc. now owns 162,667 shares of the financial services provider’s stock valued at $5,194,000 after buying an additional 20,269 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in WesBanco by 189.5% during the third quarter. Thrivent Financial for Lutherans now owns 124,063 shares of the financial services provider’s stock valued at $3,962,000 after buying an additional 81,214 shares in the last quarter. SG Americas Securities LLC lifted its position in WesBanco by 84.4% during the fourth quarter. SG Americas Securities LLC now owns 39,608 shares of the financial services provider’s stock valued at $1,317,000 after buying an additional 18,131 shares in the last quarter. Finally, CWM LLC lifted its position in WesBanco by 104.4% during the third quarter. CWM LLC now owns 47,883 shares of the financial services provider’s stock valued at $1,529,000 after buying an additional 24,461 shares in the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

About WesBanco

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.