Analysts Set WesBanco, Inc. (NASDAQ:WSBC) Target Price at $40.00

Shares of WesBanco, Inc. (NASDAQ:WSBC) have been given a consensus rating of “Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $40.00.

A number of equities analysts have commented on WSBC shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of WesBanco in a report on Monday, December 29th. DA Davidson began coverage on WesBanco in a research note on Wednesday, February 25th. They set a “buy” rating and a $44.00 target price for the company. Finally, Piper Sandler began coverage on WesBanco in a research report on Wednesday, December 17th. They set an “overweight” rating and a $42.00 target price on the stock.

WesBanco Stock Performance

WesBanco stock opened at $33.37 on Friday. The firm has a market capitalization of $3.21 billion, a PE ratio of 16.12 and a beta of 0.79. WesBanco has a one year low of $26.42 and a one year high of $38.10. The stock’s 50 day moving average price is $35.28 and its 200 day moving average price is $33.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.92 and a current ratio of 0.92.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.84. The company had revenue of $265.78 million during the quarter, compared to the consensus estimate of $265.53 million. WesBanco had a net margin of 15.51% and a return on equity of 8.81%. During the same quarter last year, the company earned $0.71 earnings per share. As a group, sell-side analysts expect that WesBanco will post 3.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.52 annualized dividend and a yield of 4.6%. WesBanco’s dividend payout ratio is currently 73.43%.

Institutional Trading of WesBanco

Several institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd raised its position in shares of WesBanco by 12,500.0% during the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 750 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of WesBanco during the second quarter worth about $26,000. Smartleaf Asset Management LLC grew its position in shares of WesBanco by 255.1% during the third quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 574 shares during the last quarter. First Horizon Corp acquired a new stake in shares of WesBanco in the 3rd quarter worth about $27,000. Finally, True Wealth Design LLC increased its holdings in shares of WesBanco by 77.9% in the 3rd quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 384 shares during the period. Institutional investors and hedge funds 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.