WesBanco, Inc. (NASDAQ:WSBC) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus: WesBanco has a “Moderate Buy” rating from seven analysts, with an average 12-month price target of $43.20 versus a recent share price of $38.49.
• Financial performance: The company reported quarterly EPS of $0.92, beating estimates of $0.85, while revenue of $275.79 million also exceeded expectations.
• Shareholder returns: WesBanco declared a quarterly dividend of $0.38, equivalent to an annualized yield of about 3.9%; insiders sold 35,195 shares worth approximately $1.47 million over the past 90 days.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $43.20.

Several research firms have recently issued reports on WSBC. Royal Bank Of Canada reiterated a "sector perform" rating and set a $44.00 target price on shares of WesBanco in a report on Monday, September 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of WesBanco in a research report on Monday, August 3rd. Zacks Research upgraded WesBanco from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Wall Street Zen raised WesBanco from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Finally, DA Davidson set a $46.00 target price on WesBanco in a research note on Thursday, July 23rd.

WesBanco Stock Performance

Shares of WSBC stock opened at $38.49 on Wednesday. The company's fifty day moving average price is $40.91 and its 200-day moving average price is $37.29. The stock has a market cap of $3.69 billion, a PE ratio of 11.19 and a beta of 0.66. 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.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.07. The company had revenue of $275.79 million during the quarter, compared to analyst estimates of $267.71 million. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. On average, equities analysts expect that WesBanco will post 3.57 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a $0.38 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a yield of 3.9%. WesBanco's payout ratio is presently 44.19%.

Insider Activity at WesBanco

In other news, EVP Jayson M. Zatta sold 12,500 shares of the stock in a transaction that occurred 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 $3,389,227.60. This represents a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Denise H. Knouse-Snyder sold 3,070 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $40.89, for a total transaction of $125,532.30. Following the sale, the director directly owned 15,035 shares of the company's stock, valued at $614,781.15. This trade represents a 16.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,195 shares of company stock worth $1,465,800 in the last ninety days. 2.07% of the stock is currently owned by company insiders.

Institutional Trading of WesBanco

Several institutional investors have recently added to or reduced their stakes in WSBC. Bayview Asset Management LLC boosted its position in shares of WesBanco by 0.4% in the fourth quarter. Bayview Asset Management LLC now owns 80,300 shares of the financial services provider's stock worth $2,669,000 after purchasing an additional 300 shares during the period. Commonwealth Financial Services LLC lifted its stake in shares of WesBanco by 3.4% during the 1st quarter. Commonwealth Financial Services LLC now owns 10,329 shares of the financial services provider's stock valued at $356,000 after buying an additional 342 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of WesBanco by 0.7% during the 4th quarter. Corient Private Wealth LLC now owns 50,414 shares of the financial services provider's stock valued at $1,677,000 after buying an additional 357 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in WesBanco by 1.9% in the 1st quarter. D.A. Davidson & CO. now owns 22,489 shares of the financial services provider's stock worth $776,000 after buying an additional 424 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in WesBanco by 36.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,572 shares of the financial services provider's stock worth $86,000 after buying an additional 692 shares during the period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.