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

Shares of WesBanco, Inc. (NASDAQ:WSBC) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $39.00.

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

WesBanco Stock Performance

Shares of WesBanco stock opened at $37.78 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 stock’s fifty day moving average is $34.61 and its two-hundred day moving average is $32.61. WesBanco has a 52 week low of $26.42 and a 52 week high of $38.10. The company has a market capitalization of $3.63 billion, a PE ratio of 18.25 and a beta of 0.80.

WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share for the quarter, hitting the consensus estimate of $0.84. The business had revenue of $265.78 million during the quarter, compared to the consensus estimate of $265.53 million. WesBanco had a return on equity of 8.88% and a net margin of 15.51%.During the same period last year, the company earned $0.71 earnings per share. As a group, 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. Shareholders of record on Friday, December 5th were issued a $0.38 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.0%. This is a positive change from WesBanco’s previous quarterly dividend of $0.37. WesBanco’s dividend payout ratio (DPR) is currently 73.43%.

Insider Activity

In other news, Director F Eric Nelson, Jr. sold 752 shares of the firm’s stock in a transaction 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 is accessible through this link. Insiders own 2.80% of the company’s stock.

Institutional Trading of WesBanco

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd grew its holdings in WesBanco by 12,500.0% during the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 750 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of WesBanco in the 2nd quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its position in shares of WesBanco by 255.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 574 shares during the period. First Horizon Corp bought a new position in shares of WesBanco during the third quarter valued at approximately $27,000. Finally, True Wealth Design LLC boosted its stake in shares of WesBanco by 77.9% during the third quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 384 shares in the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

About WesBanco

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.