WesBanco (NASDAQ:WSBC) PT Lowered to $34.00 at Hovde Group

WesBanco (NASDAQ:WSBC) had its price target reduced by analysts at Hovde Group from $36.00 to $34.00 in a research note issued to investors on Wednesday, Briefing.com reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price objective points to a potential upside of 21.21% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Stephens reiterated an “equal weight” rating and issued a $30.00 price target on shares of WesBanco in a research note on Wednesday. Raymond James upgraded WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Friday, January 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 price target on shares of WesBanco in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.17.

WesBanco Stock Performance

Shares of WSBC traded down $0.95 during trading hours on Wednesday, hitting $28.05. The company had a trading volume of 90,361 shares, compared to its average volume of 200,121. The business has a fifty day moving average of $28.64 and a 200-day moving average of $28.23. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 11.18 and a beta of 0.86. WesBanco has a 12 month low of $19.84 and a 12 month high of $32.20.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. The firm had revenue of $225.96 million for the quarter, compared to analysts’ expectations of $147.81 million. WesBanco had a net margin of 19.11% and a return on equity of 6.94%. During the same period in the prior year, the firm earned $0.71 EPS. Equities analysts anticipate that WesBanco will post 2.27 EPS for the current fiscal year.

Institutional Trading of WesBanco

Several institutional investors and hedge funds have recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. purchased a new position in shares of WesBanco in the fourth quarter worth about $31,000. Principal Securities Inc. purchased a new stake in shares of WesBanco during the 4th quarter valued at $43,000. Sound Income Strategies LLC lifted its holdings in shares of WesBanco by 2,688.7% during the 4th quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,425 shares during the last quarter. EMC Capital Management purchased a new position in WesBanco in the third quarter worth $51,000. Finally, TFO Wealth Partners LLC increased its stake in WesBanco by 26,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 3,144 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

About WesBanco

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.