Analysts Set WesBanco, Inc. (WSBC) PT at $41.25
WesBanco, Inc. (NASDAQ:WSBC) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $41.25.
WSBC has been the topic of several recent analyst reports. BidaskClub lowered WesBanco from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut WesBanco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, FBR & Co lowered their price target on WesBanco from $44.00 to $40.00 and set a “mkt perform” rating for the company in a report on Friday, July 21st.
In related news, EVP Brent E. Richmond sold 1,440 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $36.83, for a total value of $53,035.20. Following the transaction, the executive vice president now directly owns 22,701 shares of the company’s stock, valued at approximately $836,077.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.05% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of WSBC. Ameritas Investment Partners Inc. purchased a new stake in WesBanco during the 1st quarter valued at about $132,000. Smithfield Trust Co. acquired a new position in shares of WesBanco in the second quarter valued at about $138,000. Sei Investments Co. increased its holdings in shares of WesBanco by 4,236.6% in the second quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 4,279 shares during the period. Amalgamated Bank acquired a new position in shares of WesBanco in the second quarter valued at about $211,000. Finally, Victory Capital Management Inc. increased its holdings in shares of WesBanco by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 801 shares during the period. 57.72% of the stock is owned by institutional investors.
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Shares of WesBanco (NASDAQ WSBC) traded up 0.10% on Friday, reaching $41.63. 125,821 shares of the company were exchanged. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 19.02 and a beta of 0.96. The firm’s 50 day moving average price is $37.99 and its 200 day moving average price is $38.44. WesBanco has a 52 week low of $32.06 and a 52 week high of $44.19.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). The business had revenue of $94.26 million for the quarter, compared to analysts’ expectations of $96.70 million. WesBanco had a net margin of 23.44% and a return on equity of 7.55%. During the same quarter in the prior year, the company posted $0.58 EPS. Equities research analysts anticipate that WesBanco will post $2.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.50%. WesBanco’s payout ratio is currently 47.71%.
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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