WesBanco (NASDAQ:WSBC) Price Target Lowered to $27.00 at Stephens

WesBanco (NASDAQ:WSBC) had its price target decreased by Stephens from $30.00 to $27.00 in a research note published on Thursday, Benzinga reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada restated a sector perform rating and issued a $32.00 price objective on shares of WesBanco in a report on Tuesday, April 9th. Hovde Group cut their target price on shares of WesBanco from $36.00 to $34.00 and set an outperform rating for the company in a research note on Wednesday, April 24th. Finally, Raymond James upgraded shares of WesBanco from a market perform rating to an outperform rating and set a $34.00 target price for the company in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, WesBanco has an average rating of Hold and an average target price of $30.60.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $27.52 on Thursday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 11.47 and a beta of 0.86. The business has a 50-day moving average of $28.57 and a 200-day moving average of $28.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. WesBanco has a fifty-two week low of $19.84 and a fifty-two week high of $32.20.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. The company had revenue of $225.96 million during the quarter, compared to analysts’ expectations of $147.81 million. WesBanco had a return on equity of 6.54% and a net margin of 17.52%. During the same quarter last year, the company earned $0.71 EPS. As a group, sell-side analysts predict that WesBanco will post 2.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were paid a $0.36 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.44 annualized dividend and a yield of 5.23%. WesBanco’s dividend payout ratio (DPR) is currently 60.00%.

Institutional Investors Weigh In On WesBanco

Several hedge funds have recently bought and sold shares of the stock. Founders Financial Securities LLC lifted its position in WesBanco by 6.1% during the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 436 shares during the last quarter. Rhumbline Advisers raised its position in shares of WesBanco by 0.5% in the third quarter. Rhumbline Advisers now owns 97,609 shares of the financial services provider’s stock valued at $2,384,000 after buying an additional 505 shares in the last quarter. US Bancorp DE raised its position in shares of WesBanco by 1.0% in the fourth quarter. US Bancorp DE now owns 63,263 shares of the financial services provider’s stock valued at $1,985,000 after buying an additional 657 shares in the last quarter. Bridge City Capital LLC raised its position in shares of WesBanco by 0.8% in the first quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock valued at $2,522,000 after buying an additional 663 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of WesBanco by 3.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,336 shares of the financial services provider’s stock valued at $826,000 after buying an additional 900 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.