Stephens Cuts WesBanco (NASDAQ:WSBC) Price Target to $27.00

WesBanco (NASDAQ:WSBC) had its price target decreased by investment analysts at Stephens from $30.00 to $27.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price target would suggest a potential downside of 1.89% from the company’s current price.

Several other analysts have also weighed in on WSBC. Hovde Group lowered their target price on WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Wednesday. Raymond James upgraded WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research report on Friday, January 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, WesBanco has a consensus rating of “Hold” and a consensus target price of $30.67.

WesBanco Stock Performance

NASDAQ WSBC traded down $0.76 on Thursday, reaching $27.52. The stock had a trading volume of 36,396 shares, compared to its average volume of 200,096. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. WesBanco has a 12-month low of $19.84 and a 12-month high of $32.20. The business’s 50-day moving average price is $28.64 and its 200 day moving average price is $28.23. The stock has a market cap of $1.63 billion, a P/E ratio of 11.43 and a beta of 0.86.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. WesBanco had a return on equity of 6.54% and a net margin of 17.52%. The business had revenue of $225.96 million during the quarter, compared to analysts’ expectations of $147.81 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, equities analysts expect that WesBanco will post 2.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WSBC. SG Americas Securities LLC acquired a new stake in shares of WesBanco in the third quarter valued at $223,000. Denali Advisors LLC acquired a new stake in shares of WesBanco in the third quarter valued at $357,000. Bill Few Associates Inc. lifted its holdings in shares of WesBanco by 12.0% in the third quarter. Bill Few Associates Inc. now owns 12,806 shares of the financial services provider’s stock valued at $313,000 after buying an additional 1,375 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of WesBanco by 38.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,080 shares of the financial services provider’s stock valued at $295,000 after buying an additional 3,361 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of WesBanco by 27.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,519 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 2,516 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Company Profile

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.