WesBanco (NASDAQ:WSBC) Price Target Cut to $34.00 by Analysts at Hovde Group

WesBanco (NASDAQ:WSBC - Get Free Report) had its price objective decreased by Hovde Group from $36.00 to $34.00 in a research report issued on Wednesday, Marketbeat.com reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Hovde Group's price target indicates a potential upside of 20.23% from the company's previous close.

WSBC has been the subject of a number of other research reports. Raymond James raised shares of WesBanco from a "market perform" rating to an "outperform" rating and set a $34.00 price objective for the company in a report on Friday, January 5th. Stephens reaffirmed an "equal weight" rating and issued a $30.00 price target on shares of WesBanco in a report on Wednesday. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $32.00 price objective on shares of WesBanco in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, WesBanco currently has a consensus rating of "Hold" and a consensus target price of $31.17.

WesBanco Stock Performance

Shares of WSBC stock traded down $0.72 during trading hours on Wednesday, hitting $28.28. The company's stock had a trading volume of 241,443 shares, compared to its average volume of 202,209. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $28.64 and a 200 day moving average of $28.23. WesBanco has a 12-month low of $19.84 and a 12-month high of $32.20. 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 announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $225.96 million for the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a return on equity of 6.94% and a net margin of 19.11%. During the same period last year, the firm earned $0.71 EPS. On average, sell-side analysts forecast that WesBanco will post 2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On WesBanco

Large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in WesBanco during the third quarter worth about $223,000. Denali Advisors LLC purchased a new stake in shares of WesBanco in the third quarter valued at approximately $357,000. Bill Few Associates Inc. increased its holdings in shares of WesBanco by 12.0% in the third quarter. Bill Few Associates Inc. now owns 12,806 shares of the financial services provider's stock valued at $313,000 after purchasing an additional 1,375 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in WesBanco by 38.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,080 shares of the financial services provider's stock worth $295,000 after buying an additional 3,361 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in WesBanco by 27.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,519 shares of the financial services provider's stock worth $281,000 after buying an additional 2,516 shares in the last quarter. Hedge funds and other institutional investors 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.