WesBanco, Inc. (NASDAQ:WSBC) Stock Has Average Price Target of $43.20

WesBanco, Inc. (NASDAQ:WSBC) has earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $43.20.

Several research analysts have recently weighed in on WSBC shares. DA Davidson set a $46.00 price target on shares of WesBanco in a report on Thursday, July 23rd. Wall Street Zen upgraded WesBanco from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Royal Bank Of Canada restated a “sector perform” rating and set a $44.00 target price on shares of WesBanco in a research report on Monday, September 14th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $42.00 price target on shares of WesBanco in a report on Thursday, July 23rd. Finally, Zacks Research upgraded WesBanco from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd.

Insiders Place Their Bets

In other news, EVP Kimberly Griffith sold 6,875 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $41.20, for a total value of $283,250.00. Following the transaction, the executive vice president owned 15,858 shares of the company’s stock, valued at $653,349.60. This represents a 30.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jayson Zatta sold 12,500 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $41.80, for a total transaction of $522,500.00. Following the sale, the executive vice president owned 81,082 shares in the company, valued at approximately $3,389,227.60. This trade represents a 13.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 35,195 shares of company stock worth $1,465,800. 2.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WesBanco

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC purchased a new position in shares of WesBanco during the 2nd quarter valued at about $621,000. Integrated Wealth Concepts LLC bought a new position in WesBanco during the second quarter valued at approximately $177,000. Allworth Financial LP grew its position in WesBanco by 40.1% during the second quarter. Allworth Financial LP now owns 6,280 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 1,799 shares during the last quarter. Waverly Advisors LLC raised its stake in shares of WesBanco by 21.7% during the second quarter. Waverly Advisors LLC now owns 8,296 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 1,480 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of WesBanco in the 2nd quarter worth approximately $40,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Price Performance

WSBC stock opened at $37.73 on Wednesday. The firm has a 50 day moving average of $40.68 and a 200-day moving average of $37.45. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.43. WesBanco has a 12 month low of $29.57 and a 12 month high of $43.02. The firm has a market capitalization of $3.62 billion, a P/E ratio of 10.97 and a beta of 0.66.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. The business had revenue of $275.79 million for the quarter, compared to analyst estimates of $267.71 million. As a group, sell-side analysts predict that WesBanco will post 3.58 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, September 4th. This represents a $1.52 annualized dividend and a yield of 4.0%. WesBanco’s payout ratio is presently 44.19%.

About WesBanco

WesBanco, Inc (NASDAQ: WSBC) is a financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides community banking services to individuals, businesses and institutions.

WesBanco’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other deposit and lending products. The company also provides trust, investment management and brokerage services through its wealth management operations, along with insurance and employee benefit solutions in select markets.

Founded in 1870, WesBanco serves customers through a network of banking offices and financial service locations across West Virginia, Ohio, Pennsylvania, Kentucky and Indiana.