WesBanco, Inc. (NASDAQ:WSBC) Stock Has Consensus Target Price of $43.60 According to Analysts

WesBanco, Inc. (NASDAQ:WSBC) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $43.60.

A number of equities research analysts have weighed in on the company. Raymond James Financial downgraded WesBanco from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 6th. Piper Sandler dropped their target price on WesBanco from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $42.00 target price on shares of WesBanco in a research report on Thursday, July 23rd. Wall Street Zen lowered WesBanco from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $44.00 price target on shares of WesBanco in a research note on Monday, September 14th.

WesBanco Price Performance

NASDAQ:WSBC opened at $37.63 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.94. The company has a 50-day moving average of $39.35 and a 200-day moving average of $37.83. WesBanco has a 52 week low of $29.57 and a 52 week high of $43.02. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 10.94 and a beta of 0.69.

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

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.0%. WesBanco’s dividend payout ratio (DPR) is presently 44.19%.

Insider Buying and Selling

In related news, EVP Jan Pattishall-Krupinski sold 2,250 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $41.45, for a total transaction of $93,262.50. Following the completion of the sale, the executive vice president owned 33,674 shares in the company, valued at $1,395,787.30. This trade represents a 6.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Denise H. Knouse-Snyder sold 3,070 shares of WesBanco stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $40.89, for a total transaction of $125,532.30. Following the transaction, the director directly owned 15,035 shares of the company’s stock, valued at $614,781.15. This represents a 16.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,195 shares of company stock worth $1,465,800 in the last three months. Company insiders own 2.07% of the company’s stock.

Institutional Trading of WesBanco

Hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC lifted its position in WesBanco by 42.2% during the 3rd quarter. Sound Income Strategies LLC now owns 143,059 shares of the financial services provider’s stock valued at $5,287,000 after purchasing an additional 42,428 shares during the period. GAMMA Investing LLC boosted its stake in shares of WesBanco by 39.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,546 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 714 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of WesBanco during the 2nd quarter worth approximately $621,000. Integrated Wealth Concepts LLC acquired a new stake in shares of WesBanco during the 2nd quarter worth approximately $177,000. Finally, Allworth Financial LP grew its position in shares of WesBanco by 40.1% during the 2nd quarter. Allworth Financial LP now owns 6,280 shares of the financial services provider’s stock worth $245,000 after buying an additional 1,799 shares during the period. Institutional investors and hedge funds own 61.41% of the company’s stock.

About WesBanco

WesBanco, Inc (NASDAQ: WSBC) is a regional financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to individuals, families, businesses and institutions.

Its offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal and corporate credit services, mortgage banking and other traditional banking products.