WesBanco (NASDAQ:WSBC) Given New $42.00 Price Target at DA Davidson

WesBanco (NASDAQ:WSBC) had its price target lifted by research analysts at DA Davidson from $35.00 to $42.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price would indicate a potential upside of 26.58% from the stock’s previous close.

WSBC has been the subject of several other reports. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price target on shares of WesBanco in a research report on Tuesday, April 9th. Hovde Group raised their target price on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Stephens reduced their price target on WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $33.17.

WesBanco Price Performance

WesBanco stock traded up $0.40 during midday trading on Monday, reaching $33.18. The company’s stock had a trading volume of 32,239 shares, compared to its average volume of 196,197. WesBanco has a 52 week low of $23.00 and a 52 week high of $34.85. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.97 billion, a PE ratio of 13.83 and a beta of 0.84. The business has a 50-day moving average price of $28.35 and a 200-day moving average price of $28.60.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). WesBanco had a net margin of 15.22% and a return on equity of 5.92%. The firm had revenue of $234.35 million for the quarter, compared to analyst estimates of $148.40 million. During the same period in the previous year, the business posted $0.71 earnings per share. On average, sell-side analysts predict that WesBanco will post 2.21 EPS for the current year.

Hedge Funds Weigh In On WesBanco

Several institutional investors have recently made changes to their positions in WSBC. Bailard Inc. bought a new stake in WesBanco in the 2nd quarter valued at about $687,000. Bank of New York Mellon Corp increased its holdings in shares of WesBanco by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock valued at $13,685,000 after acquiring an additional 21,297 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of WesBanco by 3.9% during the second quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 647 shares in the last quarter. AMG National Trust Bank raised its position in shares of WesBanco by 31.7% during the second quarter. AMG National Trust Bank now owns 14,535 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 3,500 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of WesBanco by 64.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 12,193 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 4,760 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

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, 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.