WesBanco, Inc. (NASDAQ:WSBC) Receives $43.20 Average PT from Brokerages

Shares of WesBanco, Inc. (NASDAQ:WSBC) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $43.20.

A number of brokerages have recently commented on WSBC. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $42.00 price objective on shares of WesBanco in a research report on Thursday, July 23rd. Piper Sandler raised their target price on shares of WesBanco from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Wall Street Zen lowered shares of WesBanco from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of WesBanco in a research report on Monday. Finally, Royal Bank Of Canada increased their price objective on shares of WesBanco from $41.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd.

WesBanco Price Performance

Shares of WSBC stock opened at $41.73 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. WesBanco has a 12-month low of $29.23 and a 12-month high of $42.50. The firm has a fifty day moving average of $38.52 and a 200-day moving average of $36.18. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 12.13 and a beta of 0.67.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.85 by $0.07. The business had revenue of $275.79 million for the quarter, compared to the consensus estimate of $267.71 million. WesBanco had a return on equity of 9.72% and a net margin of 23.35%. On average, equities research analysts forecast that WesBanco will post 3.57 earnings per share for the current year.

WesBanco declared that its board has authorized a stock buyback program on Wednesday, May 20th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.6%. WesBanco’s payout ratio is 44.19%.

Insider Transactions at WesBanco

In other news, EVP Jayson M. Zatta sold 12,500 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $41.80, for a total value of $522,500.00. Following the completion of the sale, the executive vice president owned 81,082 shares of the company’s stock, valued at approximately $3,389,227.60. This represents a 13.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jan Pattishall-Krupinski sold 2,250 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $41.45, for a total transaction of $93,262.50. Following the transaction, the executive vice president owned 33,674 shares in the company, valued at approximately $1,395,787.30. The trade was a 6.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,625 shares of company stock worth $1,168,982 in the last 90 days. Corporate insiders own 2.07% of the company’s stock.

Hedge Funds Weigh In On WesBanco

A number of hedge funds and other institutional investors have recently bought and sold shares of WSBC. Goldman Sachs Group Inc. increased its holdings in shares of WesBanco by 179.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock valued at $47,779,000 after purchasing an additional 991,584 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in WesBanco in the 2nd quarter valued at $36,433,000. FJ Capital Management LLC boosted its stake in WesBanco by 771.4% in the 3rd quarter. FJ Capital Management LLC now owns 654,296 shares of the financial services provider’s stock valued at $20,892,000 after purchasing an additional 579,211 shares during the period. Aristotle Capital Boston LLC acquired a new position in WesBanco in the 4th quarter valued at $11,279,000. Finally, Wellington Management Group LLP grew its holdings in WesBanco by 13.7% in the 4th quarter. Wellington Management Group LLP now owns 2,764,222 shares of the financial services provider’s stock valued at $91,883,000 after buying an additional 332,585 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

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.