WesBanco, Inc. (WSBC) Receives $40.00 Consensus Target Price from Analysts
Shares of WesBanco, Inc. (NASDAQ:WSBC) have earned an average rating of “Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $39.50.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, March 29th. ValuEngine upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Stephens reiterated an “overweight” rating on shares of WesBanco in a report on Tuesday, April 11th. DA Davidson upgraded shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Friday, June 2nd. Finally, Sandler O’Neill upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a report on Wednesday, March 29th.
In related news, EVP Brent E. Richmond sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $40.86, for a total transaction of $204,300.00. Following the completion of the sale, the executive vice president now directly owns 23,302 shares in the company, valued at $952,119.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory A. Dugan sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $40.72, for a total transaction of $325,760.00. Following the transaction, the executive vice president now directly owns 13,051 shares in the company, valued at approximately $531,436.72. The disclosure for this sale can be found here. Company insiders own 4.05% of the company’s stock.
A number of institutional investors have recently modified their holdings of WSBC. Ameritas Investment Partners Inc. acquired a new position in shares of WesBanco during the first quarter valued at $132,000. Denver Investment Advisors LLC acquired a new position in shares of WesBanco during the fourth quarter valued at $208,000. Tredje AP fonden acquired a new position in shares of WesBanco during the fourth quarter valued at $515,000. Eqis Capital Management Inc. acquired a new position in shares of WesBanco during the first quarter valued at $219,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of WesBanco by 7.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,783 shares of the financial services provider’s stock valued at $220,000 after buying an additional 419 shares during the last quarter. 56.95% of the stock is currently owned by hedge funds and other institutional investors.
WesBanco (NASDAQ:WSBC) opened at 38.59 on Friday. WesBanco has a 52-week low of $29.44 and a 52-week high of $44.19. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 17.88 and a beta of 0.96. The company’s 50-day moving average price is $38.88 and its 200-day moving average price is $40.02.
WesBanco (NASDAQ:WSBC) last announced its earnings results on Tuesday, April 18th. The financial services provider reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. WesBanco had a net margin of 23.39% and a return on equity of 7.57%. The company had revenue of $93.60 million during the quarter, compared to analysts’ expectations of $94.82 million. During the same period last year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Equities research analysts expect that WesBanco will post $2.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 9th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, June 7th. WesBanco’s dividend payout ratio is currently 48.15%.
WesBanco Company Profile
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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