Zacks Investment Research upgraded shares of WesBanco (NASDAQ:WSBC) from a hold rating to a buy rating in a report issued on Saturday morning. The firm currently has $45.00 target price on the financial services provider’s stock.
According to Zacks, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are engaged in general banking business. “
Several other equities analysts have also recently issued reports on WSBC. Boenning Scattergood restated a hold rating on shares of WesBanco in a research report on Tuesday, January 2nd. DA Davidson set a $48.00 price target on shares of WesBanco and gave the company a buy rating in a research report on Thursday, December 21st. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $41.00 price objective on shares of WesBanco in a research note on Tuesday, October 3rd. Sandler O’Neill lowered shares of WesBanco from a buy rating to a hold rating in a research note on Friday, October 20th. Finally, B. Riley set a $40.00 price objective on shares of WesBanco and gave the company a hold rating in a research note on Tuesday, November 14th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and an average target price of $42.80.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.03). WesBanco had a net margin of 24.73% and a return on equity of 7.66%. The business had revenue of $95.15 million during the quarter, compared to analyst estimates of $98.37 million. During the same quarter last year, the company posted $0.60 earnings per share. analysts expect that WesBanco will post 2.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, December 7th. WesBanco’s dividend payout ratio is currently 44.64%.
In other news, Director F Eric Nelson, Jr. sold 12,500 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $42.06, for a total value of $525,750.00. Following the sale, the director now directly owns 29,717 shares of the company’s stock, valued at approximately $1,249,897.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.05% of the company’s stock.
Several large investors have recently bought and sold shares of WSBC. Teachers Advisors LLC boosted its stake in WesBanco by 386.8% during the second quarter. Teachers Advisors LLC now owns 345,534 shares of the financial services provider’s stock worth $13,662,000 after acquiring an additional 274,555 shares in the last quarter. Eaton Vance Management bought a new position in WesBanco during the second quarter worth $9,783,000. River Road Asset Management LLC boosted its stake in WesBanco by 41.4% during the third quarter. River Road Asset Management LLC now owns 537,197 shares of the financial services provider’s stock worth $22,036,000 after acquiring an additional 157,370 shares in the last quarter. Macquarie Group Ltd. boosted its stake in WesBanco by 11.1% during the third quarter. Macquarie Group Ltd. now owns 1,525,400 shares of the financial services provider’s stock worth $62,572,000 after acquiring an additional 152,280 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in WesBanco by 8.8% during the third quarter. Earnest Partners LLC now owns 1,641,852 shares of the financial services provider’s stock worth $67,349,000 after acquiring an additional 132,434 shares in the last quarter. 59.11% of the stock is currently owned by institutional investors.
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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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