WesBanco (NASDAQ:WSBC) Price Target Raised to $34.00 at Keefe, Bruyette & Woods

WesBanco (NASDAQ:WSBC) had its price target boosted by Keefe, Bruyette & Woods from $30.00 to $34.00 in a report published on Thursday, Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the company. DA Davidson increased their price objective on WesBanco from $35.00 to $42.00 and gave the stock a buy rating in a research report on Monday, July 29th. Stephens decreased their price target on shares of WesBanco from $30.00 to $27.00 and set an equal weight rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada upped their price objective on WesBanco from $32.00 to $35.00 and gave the stock a sector perform rating in a report on Monday, July 29th. Finally, Hovde Group upped their target price on WesBanco from $34.00 to $38.00 and gave the stock an outperform rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, WesBanco presently has a consensus rating of Hold and an average target price of $33.71.

WesBanco Price Performance

WesBanco stock opened at $30.44 on Thursday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 12.68 and a beta of 0.84. The business’s 50 day simple moving average is $28.68 and its 200 day simple moving average is $28.68. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. WesBanco has a 12 month low of $23.00 and a 12 month high of $34.85.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data 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). The business had revenue of $234.35 million during the quarter, compared to the consensus estimate of $148.40 million. WesBanco had a return on equity of 5.92% and a net margin of 15.22%. During the same period last year, the business posted $0.71 earnings per share. Sell-side analysts forecast that WesBanco will post 2.1 EPS for the current year.

WesBanco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.73%. The ex-dividend date was Friday, June 7th. WesBanco’s dividend payout ratio (DPR) is currently 60.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of WesBanco during the fourth quarter valued at about $8,620,000. Edgestream Partners L.P. purchased a new position in shares of WesBanco during the 1st quarter worth approximately $3,555,000. International Assets Investment Management LLC raised its position in shares of WesBanco by 3,037.0% in the 4th quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock worth $3,269,000 after acquiring an additional 99,280 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of WesBanco by 6.3% in the 4th 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. Finally, Wesbanco Bank Inc. boosted its position in shares of WesBanco by 2.4% during 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 in the last quarter. 61.41% of the stock is currently owned by institutional investors.

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.