WesBanco, Inc. (WSBC) Earns Hold Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reissued their hold rating on shares of WesBanco, Inc. (NASDAQ:WSBC) in a research note published on Tuesday morning. The firm currently has a $41.00 price target on the financial services provider’s stock.
A number of other research firms have also commented on WSBC. FBR & Co reaffirmed a mkt perform rating and set a $40.00 target price (down previously from $44.00) on shares of WesBanco in a report on Thursday, July 20th. BidaskClub raised shares of WesBanco from a strong sell rating to a sell rating in a report on Friday, June 30th. Finally, Zacks Investment Research lowered shares of WesBanco from a buy rating to a hold rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. WesBanco has a consensus rating of Hold and an average price target of $41.00.
Shares of WesBanco (NASDAQ:WSBC) opened at 41.53 on Tuesday. The firm has a market cap of $1.83 billion, a P/E ratio of 18.97 and a beta of 0.96. The stock’s 50 day moving average price is $38.38 and its 200-day moving average price is $38.50. WesBanco has a 12 month low of $32.06 and a 12 month high of $44.19.
WesBanco (NASDAQ:WSBC) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). WesBanco had a return on equity of 7.55% and a net margin of 23.44%. The business had revenue of $94.26 million for the quarter, compared to analyst estimates of $96.70 million. During the same period in the prior year, the firm posted $0.58 EPS. Equities research analysts anticipate that WesBanco will post $2.45 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, September 7th. WesBanco’s dividend payout ratio is presently 47.71%.
In other news, EVP Brent E. Richmond sold 1,440 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $36.83, for a total value of $53,035.20. Following the completion of the transaction, the executive vice president now owns 22,701 shares of the company’s stock, valued at approximately $836,077.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.05% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in WSBC. BlackRock Inc. grew its holdings in shares of WesBanco by 25,298.2% in the 1st quarter. BlackRock Inc. now owns 2,653,602 shares of the financial services provider’s stock valued at $101,129,000 after buying an additional 2,643,154 shares during the period. Teachers Advisors LLC grew its holdings in shares of WesBanco by 386.8% in the 2nd quarter. Teachers Advisors LLC now owns 345,534 shares of the financial services provider’s stock valued at $13,662,000 after buying an additional 274,555 shares during the period. Eaton Vance Management acquired a new position in shares of WesBanco in the 2nd quarter valued at $9,783,000. Vanguard Group Inc. grew its holdings in shares of WesBanco by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,461,403 shares of the financial services provider’s stock valued at $131,915,000 after buying an additional 152,785 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of WesBanco by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,322,353 shares of the financial services provider’s stock valued at $126,615,000 after buying an additional 132,877 shares during the period. 57.72% of the stock is owned by institutional investors.
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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