WesBanco, Inc. (NASDAQ:WSBC) Given Consensus Rating of “Hold” by Brokerages

WesBanco, Inc. (NASDAQ:WSBC) has earned a consensus rating of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $33.83.

WSBC has been the topic of a number of research reports. Raymond James lowered WesBanco from an “outperform” rating to a “market perform” rating in a report on Thursday, July 8th. Zacks Investment Research lowered WesBanco from a “buy” rating to a “hold” rating in a report on Thursday, August 5th. Finally, B. Riley restated a “neutral” rating on shares of WesBanco in a report on Tuesday, July 27th.

WSBC stock traded down $0.03 during midday trading on Friday, hitting $31.80. 288,823 shares of the company’s stock were exchanged, compared to its average volume of 262,600. The stock’s fifty day moving average price is $32.79 and its 200-day moving average price is $35.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $2.08 billion, a PE ratio of 9.30 and a beta of 1.09. WesBanco has a one year low of $19.91 and a one year high of $39.87.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Tuesday, July 27th. The financial services provider reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.26. The firm had revenue of $151.97 million for the quarter, compared to analyst estimates of $149.17 million. WesBanco had a return on equity of 9.17% and a net margin of 36.64%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. On average, analysts expect that WesBanco will post 3.42 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 10th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Thursday, September 9th. WesBanco’s dividend payout ratio is currently 70.21%.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of WesBanco by 1.8% in the second quarter. Vanguard Group Inc. now owns 6,221,742 shares of the financial services provider’s stock valued at $221,680,000 after acquiring an additional 108,676 shares during the last quarter. BlackRock Inc. increased its position in WesBanco by 4.8% during the second quarter. BlackRock Inc. now owns 5,718,768 shares of the financial services provider’s stock worth $203,758,000 after buying an additional 259,686 shares during the last quarter. Wesbanco Bank Inc. increased its position in WesBanco by 38.6% during the second quarter. Wesbanco Bank Inc. now owns 2,650,685 shares of the financial services provider’s stock worth $94,445,000 after buying an additional 738,385 shares during the last quarter. State Street Corp increased its position in WesBanco by 16.0% during the second quarter. State Street Corp now owns 2,174,275 shares of the financial services provider’s stock worth $78,127,000 after buying an additional 299,326 shares during the last quarter. Finally, FMR LLC increased its position in WesBanco by 3.4% during the second quarter. FMR LLC now owns 1,366,806 shares of the financial services provider’s stock worth $48,699,000 after buying an additional 45,267 shares during the last quarter. 62.31% of the stock is currently owned by institutional investors and hedge funds.

About WesBanco

WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.

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Analyst Recommendations for WesBanco (NASDAQ:WSBC)

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