Shares of WesBanco, Inc. (NASDAQ:WSBC – Get Rating) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $37.25.
Several equities research analysts have commented on WSBC shares. B. Riley lowered their price target on shares of WesBanco from $35.00 to $32.00 in a report on Tuesday, April 12th. Zacks Investment Research raised shares of WesBanco from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Friday, April 1st. Finally, StockNews.com started coverage on shares of WesBanco in a report on Thursday, March 31st. They issued a “hold” rating for the company.
In related news, EVP Jonathan D. Dargusch sold 1,121 shares of the stock in a transaction that occurred on Tuesday, February 8th. The shares were sold at an average price of $36.93, for a total transaction of $41,398.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.15% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in WesBanco in the 1st quarter valued at approximately $337,000. Bill Few Associates Inc. boosted its position in WesBanco by 39.8% in the 1st quarter. Bill Few Associates Inc. now owns 11,509 shares of the financial services provider’s stock valued at $395,000 after buying an additional 3,278 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in WesBanco in the 1st quarter valued at approximately $343,000. Bailard Inc. purchased a new position in WesBanco in the 1st quarter valued at approximately $268,000. Finally, Truist Financial Corp boosted its position in WesBanco by 26.5% in the 1st quarter. Truist Financial Corp now owns 15,234 shares of the financial services provider’s stock valued at $523,000 after buying an additional 3,190 shares during the period. 60.15% of the stock is owned by institutional investors.
NASDAQ WSBC opened at $32.24 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s fifty day moving average price is $34.62 and its 200 day moving average price is $35.28. WesBanco has a 1 year low of $30.21 and a 1 year high of $39.87. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 10.23 and a beta of 0.96.
WesBanco (NASDAQ:WSBC – Get Rating) last released its earnings results on Tuesday, April 26th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. WesBanco had a return on equity of 8.27% and a net margin of 35.42%. The firm had revenue of $138.09 million for the quarter, compared to the consensus estimate of $139.13 million. During the same period in the prior year, the firm earned $1.06 EPS. The firm’s revenue was down 7.7% on a year-over-year basis. Research analysts expect that WesBanco will post 2.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 11th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.22%. This is an increase from WesBanco’s previous quarterly dividend of $0.33. WesBanco’s dividend payout ratio (DPR) is currently 43.17%.
About WesBanco
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. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit.