WesBanco, Inc. (NASDAQ:WSBC) Receives $40.00 Consensus Price Target from Brokerages

WesBanco, Inc. (NASDAQ:WSBC) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $40.60.

Several brokerages have weighed in on WSBC. Raymond James Financial reissued a “strong-buy” rating and set a $41.00 price objective on shares of WesBanco in a report on Thursday. Piper Sandler initiated coverage on WesBanco in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $42.00 target price on the stock. DA Davidson started coverage on WesBanco in a research report on Wednesday, February 25th. They set a “buy” rating and a $44.00 price target on the stock. Finally, Weiss Ratings upgraded WesBanco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday.

WesBanco Stock Up 0.5%

WSBC opened at $33.33 on Friday. WesBanco has a twelve month low of $26.42 and a twelve month high of $38.10. The company’s 50-day moving average price is $35.28 and its two-hundred day moving average price is $33.35. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 16.10 and a beta of 0.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.40.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.84. The company had revenue of $265.78 million during the quarter, compared to analyst estimates 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 business posted $0.71 EPS. As a group, equities analysts expect that WesBanco will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be issued a dividend of $0.38 per share. 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 73.43%.

Hedge Funds Weigh In On WesBanco

Several large investors have recently modified their holdings of WSBC. Royal Bank of Canada raised its position in shares of WesBanco by 52.2% in the first quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider’s stock valued at $1,858,000 after purchasing an additional 20,585 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in WesBanco by 56.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider’s stock worth $1,582,000 after buying an additional 18,347 shares during the period. Jones Financial Companies Lllp grew its stake in WesBanco by 1,553.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,895 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in WesBanco by 179.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock valued at $47,779,000 after buying an additional 991,584 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in WesBanco by 60.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider’s stock valued at $6,704,000 after acquiring an additional 81,319 shares during the period. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Company Profile

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.