A number of other analysts have also commented on the company. Hovde Group assumed coverage on WesBanco in a research report on Monday, June 17th. They issued an outperform rating and a $42.00 price objective for the company. Sandler O’Neill upgraded WesBanco from a hold rating to a buy rating in a research report on Thursday, July 25th. B. Riley set a $40.00 price objective on WesBanco and gave the stock a hold rating in a research report on Friday, September 13th. Boenning Scattergood reiterated a neutral rating on shares of WesBanco in a research report on Thursday, June 20th. Finally, Keefe, Bruyette & Woods upgraded WesBanco from a market perform rating to an outperform rating and set a $42.00 price objective for the company in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. WesBanco presently has an average rating of Hold and an average price target of $41.25.
WesBanco stock opened at $37.97 on Wednesday. The stock has a 50-day simple moving average of $35.08 and a 200 day simple moving average of $37.73. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.62. WesBanco has a 12-month low of $33.19 and a 12-month high of $46.64. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 1.19 and a beta of 1.13.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.82. The firm had revenue of $129.62 million during the quarter, compared to analyst estimates of $127.44 million. WesBanco had a return on equity of 8.68% and a net margin of 27.85%. During the same period last year, the company earned $0.80 earnings per share. As a group, sell-side analysts anticipate that WesBanco will post 3.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, September 6th. This represents a $1.24 annualized dividend and a dividend yield of 3.27%. WesBanco’s payout ratio is currently 38.63%.
In other news, EVP Brent E. Richmond sold 5,323 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $36.53, for a total transaction of $194,449.19. Following the completion of the transaction, the executive vice president now directly owns 17,428 shares in the company, valued at approximately $636,644.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen J. Callen bought 7,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $33.76 per share, with a total value of $236,320.00. The disclosure for this purchase can be found here. 3.24% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Aperio Group LLC grew its position in shares of WesBanco by 12.7% during the 2nd quarter. Aperio Group LLC now owns 11,358 shares of the financial services provider’s stock worth $438,000 after buying an additional 1,282 shares during the period. Huntington National Bank grew its position in shares of WesBanco by 61.0% in the 2nd quarter. Huntington National Bank now owns 25,642 shares of the financial services provider’s stock valued at $988,000 after purchasing an additional 9,711 shares during the period. First Trust Advisors LP grew its position in shares of WesBanco by 6.9% in the 2nd quarter. First Trust Advisors LP now owns 66,748 shares of the financial services provider’s stock valued at $2,573,000 after purchasing an additional 4,288 shares during the period. Dupont Capital Management Corp acquired a new position in shares of WesBanco in the 2nd quarter valued at approximately $1,573,000. Finally, GSA Capital Partners LLP acquired a new position in shares of WesBanco in the 2nd quarter valued at approximately $468,000. Institutional investors own 57.59% of the company’s stock.
WesBanco Company Profile
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
Further Reading: Mutual Funds
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