WesBanco, Inc. (WSBC) Given Average Recommendation of “Buy” by Brokerages

Shares of WesBanco, Inc. (NASDAQ:WSBC) have received an average rating of “Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $39.50.

A number of brokerages have commented on WSBC. ValuEngine raised shares of WesBanco from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. DA Davidson raised shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Friday, June 2nd. Zacks Investment Research cut shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Keefe, Bruyette & Woods set a $42.00 price objective on shares of WesBanco and gave the stock a “hold” rating in a research note on Monday, April 10th. Finally, Stephens reissued an “overweight” rating on shares of WesBanco in a research note on Tuesday, April 11th.

Shares of WesBanco (WSBC) traded down 1.687% on Tuesday, reaching $38.765. 50,681 shares of the company traded hands. The stock has a 50-day moving average price of $38.92 and a 200 day moving average price of $40.03. The firm has a market capitalization of $1.70 billion, a P/E ratio of 17.963 and a beta of 0.96. WesBanco has a 1-year low of $29.44 and a 1-year high of $44.19.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The company had revenue of $93.60 million for the quarter, compared to the consensus estimate of $94.82 million. WesBanco had a net margin of 23.39% and a return on equity of 7.57%. WesBanco’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Analysts anticipate that WesBanco will post $2.49 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Friday, June 9th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.64%. WesBanco’s payout ratio is currently 48.15%.

In other WesBanco news, EVP Brent E. Richmond sold 5,000 shares of WesBanco stock in a transaction on Monday, April 24th. The shares were sold at an average price of $40.86, for a total value of $204,300.00. Following the completion of the transaction, the executive vice president now directly owns 23,302 shares of the company’s stock, valued at approximately $952,119.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory A. Dugan sold 8,000 shares of WesBanco stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $40.72, for a total transaction of $325,760.00. Following the completion of the transaction, the executive vice president now directly owns 13,051 shares of the company’s stock, valued at $531,436.72. The disclosure for this sale can be found here. Company insiders own 4.05% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC acquired a new position in shares of WesBanco during the first quarter worth approximately $2,952,000. Piedmont Investment Advisors LLC acquired a new position in shares of WesBanco during the first quarter worth approximately $1,414,000. Goldman Sachs Group Inc. boosted its position in shares of WesBanco by 18.9% in the first quarter. Goldman Sachs Group Inc. now owns 34,294 shares of the financial services provider’s stock worth $1,307,000 after buying an additional 5,445 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of WesBanco by 2.2% in the first quarter. Macquarie Group Ltd. now owns 1,373,968 shares of the financial services provider’s stock worth $52,362,000 after buying an additional 30,212 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of WesBanco by 25.2% in the first quarter. AQR Capital Management LLC now owns 44,644 shares of the financial services provider’s stock worth $1,701,000 after buying an additional 8,995 shares during the last quarter. 56.95% of the stock is owned by institutional investors and hedge funds.

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WesBanco Company Profile

WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:WSBC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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