WesBanco, Inc. (NASDAQ:WSBC) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts rate WesBanco “Hold” overall: Five of seven analysts recommend holding the stock, while two recommend buying it. The average 12-month price target is $43.60, above the reported $37.22 share price.
• WesBanco exceeded quarterly expectations, reporting $0.92 in EPS versus an $0.85 consensus estimate and revenue of $275.79 million. The company also pays a quarterly dividend of $0.38 per share, representing a 4.1% annualized yield.
• Insiders sold 35,195 shares worth approximately $1.47 million over the past 90 days, while institutional investors own 61.41% of the stock. Recent analyst actions included downgrades by Wall Street Zen and Raymond James.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) has earned an average rating of "Hold" from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $43.60.

Several analysts have issued reports on the stock. DA Davidson set a $46.00 price target on shares of WesBanco in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $42.00 price objective on shares of WesBanco in a research note on Thursday, July 23rd. Piper Sandler decreased their price objective on WesBanco from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Tuesday, October 6th. Wall Street Zen downgraded WesBanco from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Raymond James Financial lowered WesBanco from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 6th.

Insiders Place Their Bets

In other WesBanco news, EVP Jan Pattishall-Krupinski sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $41.91, for a total value of $104,775.00. Following the completion of the sale, the executive vice president owned 33,484 shares in the company, valued at approximately $1,403,314.44. The trade was a 6.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kimberly L. Griffith sold 6,875 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 15,858 shares of the company's stock, valued at approximately $653,349.60. This trade represents a 30.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 35,195 shares of company stock worth $1,465,800. 2.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nykredit A S purchased a new stake in WesBanco during the 2nd quarter valued at $40,000. Public Employees Retirement System of Ohio bought a new stake in WesBanco in the 2nd quarter worth $57,000. Rockefeller Capital Management L.P. grew 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 acquiring an additional 692 shares during the last quarter. GAMMA Investing LLC grew its holdings in WesBanco by 39.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,546 shares of the financial services provider's stock worth $95,000 after acquiring an additional 714 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of WesBanco in the first quarter valued at about $126,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Price Performance

Shares of WesBanco stock opened at $37.22 on Friday. WesBanco has a 52-week low of $29.57 and a 52-week high of $43.02. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 10.82 and a beta of 0.69. The company has a fifty day moving average of $39.53 and a 200-day moving average of $37.76. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.94.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.85 by $0.07. The company had revenue of $275.79 million for 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%. Equities research analysts expect that WesBanco will post 3.57 EPS for the current year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 4th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, September 4th. WesBanco's dividend payout ratio (DPR) is presently 44.19%.

About WesBanco

WesBanco, Inc is a financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to consumers, businesses, and organizations.

WesBanco's offerings include checking and savings accounts, consumer and residential real estate loans, commercial lending, credit cards, online and mobile banking, and other deposit and treasury management services. The company also provides trust, investment management, brokerage, and insurance services through affiliated businesses and financial professionals.

Founded in 1870, WesBanco has developed a regional banking presence serving communities in 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.