WesBanco, Inc. (NASDAQ:WSBC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of WesBanco, Inc. (NASDAQ:WSBC) have been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $43.20.

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of WesBanco in a research report on Monday, August 3rd. Royal Bank Of Canada upped their target price on WesBanco from $41.00 to $44.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $42.00 target price on shares of WesBanco in a report on Thursday, July 23rd. Piper Sandler raised their price target on WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Wall Street Zen raised WesBanco from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd.

WesBanco Stock Performance

NASDAQ WSBC opened at $41.33 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $3.96 billion, a P/E ratio of 12.01 and a beta of 0.66. WesBanco has a 12-month low of $29.57 and a 12-month high of $43.02. The firm has a 50-day moving average price of $40.75 and a two-hundred day moving average price of $36.95.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.85 by $0.07. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. The company had revenue of $275.79 million for the quarter, compared to analysts’ expectations of $267.71 million. Analysts anticipate that WesBanco will post 3.57 earnings per share for the current year.

WesBanco declared that its board has approved a share repurchase program on Wednesday, May 20th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.7%. WesBanco’s payout ratio is 44.19%.

Insider Transactions at WesBanco

In related news, EVP Jayson M. Zatta sold 12,500 shares of WesBanco stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $41.80, for a total transaction of $522,500.00. Following the sale, the executive vice president directly owned 81,082 shares of the company’s stock, valued at approximately $3,389,227.60. The trade was a 13.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Denise H. Knouse-Snyder sold 3,070 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $40.89, for a total transaction of $125,532.30. Following the transaction, the director owned 15,035 shares of the company’s stock, valued at approximately $614,781.15. This represents a 16.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 39,695 shares of company stock valued at $1,630,995. Company insiders own 2.07% of the company’s stock.

Institutional Trading of WesBanco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in shares of WesBanco by 52.2% during the first quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider’s stock worth $1,858,000 after buying an additional 20,585 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of WesBanco by 56.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider’s stock valued at $1,582,000 after acquiring an additional 18,347 shares in the last quarter. Jones Financial Companies Lllp grew its position in WesBanco by 1,553.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,895 shares during the last quarter. Goldman Sachs Group Inc. grew its position in WesBanco by 179.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock worth $47,779,000 after acquiring an additional 991,584 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in WesBanco by 60.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider’s stock worth $6,704,000 after purchasing an additional 81,319 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

WesBanco Company Profile

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.