WesBanco, Inc. (WSBC) Receives “Hold” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reiterated their hold rating on shares of WesBanco, Inc. (NASDAQ:WSBC) in a research note published on Tuesday morning. Keefe, Bruyette & Woods currently has a $41.00 target price on the financial services provider’s stock.
WSBC has been the subject of a number of other research reports. BidaskClub raised WesBanco from a strong sell rating to a sell rating in a research report on Friday, June 30th. FBR & Co reaffirmed a mkt perform rating and set a $40.00 price target (down previously from $44.00) on shares of WesBanco in a research report on Thursday, July 20th. Finally, Zacks Investment Research downgraded WesBanco from a buy rating to a hold rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. WesBanco currently has an average rating of Hold and an average target price of $41.00.
WesBanco (WSBC) opened at 41.58 on Tuesday. WesBanco has a 12 month low of $32.06 and a 12 month high of $44.19. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 18.99 and a beta of 0.96. The company’s 50-day moving average is $38.55 and its 200 day moving average is $38.52.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). WesBanco had a return on equity of 7.55% and a net margin of 23.44%. The firm had revenue of $94.26 million for the quarter, compared to analyst estimates of $96.70 million. During the same period last year, the company earned $0.58 EPS. Equities analysts forecast that WesBanco will post $2.45 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, September 7th. WesBanco’s dividend payout ratio (DPR) is currently 47.71%.
In other WesBanco news, EVP Brent E. Richmond sold 1,440 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $36.83, for a total transaction of $53,035.20. Following the completion of the transaction, the executive vice president now owns 22,701 shares of the company’s stock, valued at approximately $836,077.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.05% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WSBC. Ameritas Investment Partners Inc. acquired a new stake in shares of WesBanco in the 1st quarter valued at approximately $132,000. Smithfield Trust Co. acquired a new stake in shares of WesBanco in the 2nd quarter valued at approximately $138,000. Sei Investments Co. boosted its holdings in shares of WesBanco by 4,236.6% in the 2nd quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock valued at $174,000 after buying an additional 4,279 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of WesBanco in the 2nd quarter valued at approximately $211,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of WesBanco by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after buying an additional 801 shares during the last quarter. 57.72% of the stock is owned by institutional investors.
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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