WesBanco, Inc. (NASDAQ:WSBC) Receives $39.00 Consensus Price Target from Analysts

Shares of WesBanco, Inc. (NASDAQ:WSBC) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $39.00.

A number of equities research analysts have weighed in on the company. DA Davidson downgraded WesBanco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of WesBanco in a research report on Monday, December 29th. Finally, Piper Sandler began coverage on shares of WesBanco in a research note on Wednesday, December 17th. They set an “overweight” rating and a $42.00 target price on the stock.

Insider Buying and Selling

In other news, Director F Eric Nelson, Jr. sold 752 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $33.37, for a total transaction of $25,094.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in shares of WesBanco by 52.2% during the first quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider’s stock worth $1,858,000 after acquiring an additional 20,585 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in WesBanco by 56.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider’s stock worth $1,582,000 after purchasing an additional 18,347 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of WesBanco by 1,553.3% in the first quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,895 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of WesBanco by 179.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock valued at $47,779,000 after purchasing an additional 991,584 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of WesBanco by 60.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider’s stock valued at $6,704,000 after purchasing an additional 81,319 shares in the last quarter. 61.41% of the stock is owned by institutional investors.

WesBanco Price Performance

WSBC stock opened at $36.65 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 17.71 and a beta of 0.80. The company’s fifty day simple moving average is $34.99 and its 200 day simple moving average is $32.80. WesBanco has a 12-month low of $26.42 and a 12-month high of $38.10.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.84. WesBanco had a return on equity of 8.88% and a net margin of 15.51%.The firm had revenue of $265.78 million during the quarter, compared to the consensus estimate of $265.53 million. During the same period last year, the business posted $0.71 EPS. On average, analysts expect that WesBanco will post 3.24 earnings per share for the current year.

WesBanco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were paid a $0.38 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.1%. This is a boost from WesBanco’s previous quarterly dividend of $0.37. WesBanco’s dividend payout ratio (DPR) is 73.43%.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.