WesBanco (NASDAQ:WSBC) Shares Gap Down to $29.00

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $29.00, but opened at $28.14. WesBanco shares last traded at $28.31, with a volume of 15,021 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have commented on WSBC shares. Royal Bank of Canada restated a "sector perform" rating and issued a $32.00 price target on shares of WesBanco in a report on Tuesday, April 9th. Raymond James upgraded shares of WesBanco from a "market perform" rating to an "outperform" rating and set a $34.00 price target on the stock in a report on Friday, January 5th. Stephens restated an "equal weight" rating and set a $30.00 price objective on shares of WesBanco in a report on Wednesday. Finally, Hovde Group reduced their target price on WesBanco from $36.00 to $34.00 and set an "outperform" rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $31.17.

WesBanco Stock Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a fifty day simple moving average of $28.64 and a two-hundred day simple moving average of $28.23. The stock has a market cap of $1.68 billion, a PE ratio of 11.27 and a beta of 0.86.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, meeting analysts' consensus estimates of $0.56. WesBanco had a net margin of 19.11% and a return on equity of 6.94%. The business had revenue of $225.96 million during the quarter, compared to analyst estimates of $147.81 million. During the same period last year, the business earned $0.71 EPS. Equities analysts anticipate that WesBanco, Inc. will post 2.27 EPS for the current fiscal year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.09%. The ex-dividend date was Thursday, March 7th. WesBanco's dividend payout ratio (DPR) is 57.37%.

Institutional Investors Weigh In On WesBanco

Hedge funds have recently bought and sold shares of the business. Wesbanco Bank Inc. boosted its stake in shares of WesBanco by 2.4% during the 1st quarter. Wesbanco Bank Inc. now owns 1,681,782 shares of the financial services provider's stock valued at $50,134,000 after buying an additional 39,808 shares during the last quarter. Founders Financial Securities LLC increased its position in shares of WesBanco by 6.1% in the 1st quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider's stock worth $227,000 after purchasing an additional 436 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of WesBanco in the 1st quarter valued at about $222,000. Bridge City Capital LLC lifted its position in shares of WesBanco by 0.8% during the first quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider's stock worth $2,522,000 after purchasing an additional 663 shares during the last quarter. Finally, Moody National Bank Trust Division increased its holdings in WesBanco by 17.5% in the first quarter. Moody National Bank Trust Division now owns 17,165 shares of the financial services provider's stock valued at $512,000 after buying an additional 2,552 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company's stock.

About WesBanco

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.