WesBanco (NASDAQ:WSBC) Price Target Raised to $38.00

WesBanco (NASDAQ:WSBC) had its price target boosted by Hovde Group from $34.00 to $38.00 in a report released on Monday, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Stephens reduced their price target on shares of WesBanco from $30.00 to $27.00 and set an equal weight rating on the stock in a research report on Thursday, April 25th. Royal Bank of Canada reaffirmed a sector perform rating and set a $32.00 price target on shares of WesBanco in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $33.71.

WesBanco Stock Performance

NASDAQ:WSBC opened at $30.59 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a 50-day moving average of $28.56 and a two-hundred day moving average of $28.66. The stock has a market cap of $1.82 billion, a P/E ratio of 12.75 and a beta of 0.84. WesBanco has a 1-year low of $23.00 and a 1-year high of $34.85.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). WesBanco had a return on equity of 5.92% and a net margin of 15.22%. The company had revenue of $234.35 million for the quarter, compared to the consensus estimate of $148.40 million. During the same period in the previous year, the business posted $0.71 EPS. On average, research analysts expect that WesBanco will post 2.15 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, June 7th. This represents a $1.44 annualized dividend and a yield of 4.71%. WesBanco’s dividend payout ratio (DPR) is 60.00%.

Institutional Investors Weigh In On WesBanco

Several institutional investors and hedge funds have recently bought and sold shares of WSBC. Vanguard Group Inc. increased its stake in shares of WesBanco by 1.2% in the third quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock valued at $146,019,000 after purchasing an additional 71,928 shares during the period. Wesbanco Bank Inc. increased its stake in shares of WesBanco by 2.4% in the first quarter. Wesbanco Bank Inc. now owns 1,681,782 shares of the financial services provider’s stock valued at $50,134,000 after purchasing an additional 39,808 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of WesBanco by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock valued at $25,450,000 after purchasing an additional 48,304 shares during the period. New York State Common Retirement Fund increased its stake in shares of WesBanco by 0.8% in the fourth quarter. New York State Common Retirement Fund now owns 498,605 shares of the financial services provider’s stock valued at $15,641,000 after purchasing an additional 3,829 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of WesBanco by 4.5% in 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 purchasing an additional 21,297 shares during the period. 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.