Shares of WesBanco, Inc. (NASDAQ: WSBC) have received a “Hold” consensus rating from the six research firms that are currently covering the stock, MarketBeat.com reports. Four research analysts rated the stock a hold rating and one gave the company a buy rating. The average 1-year target price among brokers who have hedged the stock in the last year is $38.00.
WSBC has been the subject of several recent investigative reports. Boenning Scattergood reissued a “neutral” rating on WesBanco shares in a research report on Wednesday, September 29. Royal Bank of Canada raised its price target on WesBanco shares from $36.00 to $38.00 and gave the stock a “sector performance” rating in a research report on Wednesday, September 29. Zacks Investment Research upgraded WesBanco shares from a “hold” rating to a “buy” rating and set a $39.00 price target for the stock in a research note on Tuesday, January 4. Finally, B. Riley increased the price target on WesBanco shares from $34.00 to $35.00 in a research note on Wednesday, January 12.
In related news, director Stephen J. Callen bought 5,000 shares of the company in a transaction on Monday, December 20. The shares were purchased at an average cost of $32.72 per share, with a total value of $163,600.00. The purchase was disclosed in a filing with the Securities and Exchange Commission, which is available via this hyperlink. In addition, director James W Cornelsen sold 30,907 shares of capital stock in a transaction that occurred on Tuesday, November 23. The shares were sold at an average price of $35.56, for a total transaction of $1,099,052.92. Disclosure of this sale can be found here. 3.13% of the shares are owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the business. Truist Financial Corp increased its stake in WesBanco by 2.8% in the third quarter. Truist Financial Corp now owns 11,009 shares of the financial services provider valued at $375,000 after purchasing an additional 297 shares last quarter. Huntington National Bank increased its stake in WesBanco by 1.2% in the third quarter. Huntington National Bank now owns 27,936 shares of the financial services provider valued at $952,000 after purchasing an additional 329 shares last quarter. Stratos Wealth Partners LTD. increased its stake in WesBanco by 1.5% in the fourth quarter. Stratos Wealth Partners LTD. he now owns 29,659 shares of the financial services provider valued at $1,038,000 after purchasing an additional 433 shares last quarter. M&T Bank Corp increased its stake in WesBanco by 6.5% in the second quarter. M&T Bank Corp now owns 7,806 shares of the financial services provider valued at $278,000 after purchasing an additional 476 shares last quarter. Finally, Franklin Resources Inc. increased its stake in WesBanco by 1.2% in the second quarter. Franklin Resources Inc. now owns 43,200 shares of the financial services provider valued at $1,539,000 after purchasing an additional 500 shares last quarter. Currently, 60.06% of the shares belong to hedge funds and other institutional investors.
Actions of WSBC opened at $36.24 on Friday. The company has a 50-day simple moving average of $35.21 and a 200-day simple moving average of $34.45. The company has a market capitalization of $2.29 billion, a P/E ratio of 10.50, and a beta of 1.03. The firm has a debt-to-equity ratio of 0.15, a quick ratio of 0.81, and a current ratio of 0.81. WesBanco has a 52 week minimum of $28.65 and a 52 week maximum of $39.87.
WesBanco (NASDAQ: WSBC) last published its quarterly earnings results on Tuesday, October 26. The financial services provider reported earnings per share (EPS) of $0.70 for the quarter, missing Thomson Reuters’ consensus estimate of $0.77 per ($0.07). WesBanco had a return on capital of 9.23% and a net margin of 37.95%. The business had revenue of $148.03 million during the quarter, compared to analyst estimates of $146.23 million. During the same period last year, the company earned $0.66 EPS. Business revenue for the quarter fell 4.6% year over year. As a group, equity analysts forecast WesBanco to post earnings per share of 3.45 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 3. Shareholders of record on Friday, December 10, were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, December 9. This represents an annualized dividend of $1.32 and a yield of 3.64%. WesBanco’s dividend payout ratio is 38.26%.
WesBanco, Inc is a bank holding company, which is engaged in the provision of financial services. It operates through the following segments: Community Banking and Trust and Investment Services. The Community Banking segment provides services traditionally offered by service commercial banks, including commercial demand, individual sight and time deposit accounts, as well as commercial, mortgage and individual installment loans, and certain non-traditional offerings such as insurance and securities brokerage. services.
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