WesBanco, Inc. (NASDAQ:WSBC) Given Average Recommendation of “Moderate Buy” by Analysts

WesBanco, Inc. (NASDAQ:WSBC) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $40.00.

Several research analysts have issued reports on WSBC shares. Royal Bank Of Canada increased their target price on shares of WesBanco from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Piper Sandler initiated coverage on shares of WesBanco in a research report on Wednesday. They issued an “overweight” rating and a $42.00 price target for the company. Wall Street Zen downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. DA Davidson lowered shares of WesBanco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of WesBanco in a report on Monday, December 15th.

Insiders Place Their Bets

In related news, Director Zahid Afzal acquired 3,321 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were bought at an average price of $30.11 per share, with a total value of $99,995.31. Following the completion of the transaction, the director directly owned 13,223 shares in the company, valued at $398,144.53. This trade represents a 33.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director F Eric Nelson, Jr. sold 752 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $33.37, for a total transaction of $25,094.24. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On WesBanco

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of WesBanco during the 2nd quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake in WesBanco by 255.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock worth $26,000 after buying an additional 574 shares during the last quarter. First Horizon Corp acquired a new position in WesBanco during the 3rd quarter valued at about $27,000. True Wealth Design LLC raised its stake in WesBanco by 77.9% in the third quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock valued at $28,000 after buying an additional 384 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in WesBanco by 71.9% in the second quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider’s stock valued at $45,000 after buying an additional 600 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Trading Down 1.3%

Shares of NASDAQ WSBC opened at $34.80 on Monday. WesBanco has a twelve month low of $26.42 and a twelve month high of $37.18. The firm has a market cap of $3.34 billion, a PE ratio of 17.76 and a beta of 0.81. The business has a fifty day simple moving average of $32.01 and a two-hundred day simple moving average of $31.88. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. The business had revenue of $261.58 million for the quarter, compared to the consensus estimate of $263.38 million. WesBanco had a return on equity of 8.28% and a net margin of 13.91%.During the same quarter in the prior year, the company earned $0.54 EPS. Analysts expect that WesBanco will post 3.24 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Friday, December 5th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, December 5th. This is a positive change from WesBanco’s previous quarterly dividend of $0.37. WesBanco’s dividend payout ratio is presently 77.55%.

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.