WesBanco, Inc. (NASDAQ:WSBC) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give WesBanco a “Moderate Buy” consensus, with three buy ratings, three holds and one strong-buy rating. The average 12-month price target is $43.20, modestly above the reported share price of $41.81.
• WesBanco exceeded quarterly expectations, reporting $0.92 in EPS versus the $0.85 consensus and revenue of $275.79 million versus $267.71 million expected.
• The company maintains a 3.6% dividend yield and authorized a program to repurchase up to 4 million shares, while insiders sold 28,625 shares worth approximately $1.17 million over the past 90 days.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Three research 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 12-month price target among brokerages that have covered the stock in the last year is $43.20.

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of WesBanco from $41.00 to $44.00 and gave the company a "sector perform" rating in a research report on Thursday, July 23rd. Weiss Ratings raised shares of WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Zacks Research upgraded WesBanco from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Piper Sandler upped their price objective on WesBanco from $40.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Finally, Wall Street Zen lowered WesBanco from a "hold" rating to a "sell" rating in a report on Saturday.

WesBanco Price Performance

Shares of NASDAQ:WSBC opened at $41.81 on Tuesday. The company has a market capitalization of $4.02 billion, a P/E ratio of 12.15 and a beta of 0.67. The company's 50-day moving average is $38.08 and its 200 day moving average is $36.01. 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 has a fifty-two week low of $29.23 and a fifty-two week high of $42.21.

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

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, June 5th. WesBanco's dividend payout ratio is currently 44.19%.

WesBanco declared that its board has authorized a stock repurchase program on Wednesday, May 20th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Transactions at WesBanco

In related news, EVP Kimberly L. Griffith sold 6,875 shares of WesBanco stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.20, for a total value of $283,250.00. Following the completion of the sale, the executive vice president 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jayson M. Zatta sold 12,500 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $41.80, for a total transaction of $522,500.00. Following the transaction, the executive vice president owned 81,082 shares of the company's stock, valued at $3,389,227.60. This represents a 13.36% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 28,625 shares of company stock worth $1,168,982. 2.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd raised its holdings in WesBanco by 12,500.0% during the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 750 shares during the period. Hilton Head Capital Partners LLC bought a new position in shares of WesBanco in the fourth quarter worth $29,000. First Horizon Corp boosted its holdings in shares of WesBanco by 55.4% in the fourth quarter. First Horizon Corp now owns 1,302 shares of the financial services provider's stock worth $43,000 after acquiring an additional 464 shares during the period. Federated Hermes Inc. grew its position in shares of WesBanco by 71.9% in the second quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 600 shares in the last quarter. Finally, Strs Ohio grew its position in shares of WesBanco by 54.5% in the fourth quarter. Strs Ohio now owns 1,700 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 600 shares in the last quarter. 61.41% of the stock is owned by institutional investors.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.

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