Brokerages Set WesBanco, Inc. (NASDAQ:WSBC) Price Target at $38.71

WesBanco, Inc. (NASDAQ:WSBC) has been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $38.71.

A number of research firms have recently issued reports on WSBC. Piper Sandler assumed coverage on WesBanco in a research report on Thursday, April 3rd. They issued an “overweight” rating and a $37.00 price objective for the company. Keefe, Bruyette & Woods cut their price target on WesBanco from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, May 5th. Raymond James Financial reduced their price objective on shares of WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Royal Bank Of Canada dropped their price objective on shares of WesBanco from $36.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 1st.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in shares of WesBanco in the first quarter valued at about $26,000. Smartleaf Asset Management LLC raised its stake in WesBanco by 132.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 895 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 510 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in WesBanco in the 1st quarter valued at about $34,000. Creative Financial Designs Inc. ADV acquired a new position in shares of WesBanco during the 1st quarter worth approximately $48,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of WesBanco by 573.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,878 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,599 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

WesBanco Stock Performance

Shares of WSBC opened at $31.67 on Monday. The company has a market cap of $3.03 billion, a PE ratio of 20.70 and a beta of 0.85. The firm has a 50-day moving average of $30.74 and a 200-day moving average of $31.94. WesBanco has a one year low of $26.42 and a one year high of $37.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.91.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.06. The business had revenue of $253.23 million during the quarter, compared to the consensus estimate of $206.63 million. WesBanco had a net margin of 10.52% and a return on equity of 6.07%. During the same period last year, the business posted $0.56 EPS. As a group, equities analysts forecast that WesBanco will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Friday, June 6th. WesBanco’s dividend payout ratio is 96.73%.

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.