Hovde Group Cuts WesBanco (NASDAQ:WSBC) Price Target to $34.00

WesBanco (NASDAQ:WSBC) had its price target cut by Hovde Group from $36.00 to $34.00 in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on WSBC. Stephens reissued an equal weight rating and issued a $30.00 target price on shares of WesBanco in a research note on Wednesday. Royal Bank of Canada reissued a sector perform rating and issued a $32.00 target price on shares of WesBanco in a research note on Tuesday, April 9th. Finally, Raymond James upgraded WesBanco from a market perform rating to an outperform rating and set a $34.00 price target on the stock in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $30.60.

WesBanco Stock Down 0.9 %

Shares of WesBanco stock opened at $27.52 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. WesBanco has a 12 month low of $19.84 and a 12 month high of $32.20. The business has a fifty day simple moving average of $28.57 and a 200 day simple moving average of $28.27. The stock has a market cap of $1.63 billion, a PE ratio of 11.47 and a beta of 0.86.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates 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 period in the previous year, the firm earned $0.71 earnings per share. Research analysts predict that WesBanco will post 2.25 EPS for the current year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.36 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.23%. WesBanco’s dividend payout ratio (DPR) is 60.00%.

Institutional Trading of WesBanco

Several institutional investors and hedge funds have recently bought and sold shares of WSBC. FMR LLC raised its holdings in WesBanco by 3,621.1% during the third quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock worth $12,471,000 after acquiring an additional 496,958 shares in the last quarter. Norges Bank bought a new stake in WesBanco during the fourth quarter worth about $8,620,000. Earnest Partners LLC raised its holdings in WesBanco by 10.5% during the third quarter. Earnest Partners LLC now owns 1,484,752 shares of the financial services provider’s stock worth $36,258,000 after acquiring an additional 140,870 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in WesBanco by 100.0% during the third quarter. Envestnet Asset Management Inc. now owns 235,297 shares of the financial services provider’s stock worth $5,746,000 after acquiring an additional 117,635 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in WesBanco by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,966 shares of the financial services provider’s stock worth $18,632,000 after acquiring an additional 106,300 shares in the last quarter. Institutional investors 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.