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

Shares of WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) have received an average rating of "Moderate Buy" from the seven research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $38.71.

Several research firms have issued reports on WSBC. Keefe, Bruyette & Woods cut their target price on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Raymond James cut their price objective on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler assumed coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 target price for the company. Royal Bank of Canada cut their price target on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen raised WesBanco from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th.

WesBanco Stock Down 0.0%

NASDAQ:WSBC traded down $0.01 during trading hours on Thursday, reaching $30.90. The company's stock had a trading volume of 537,822 shares, compared to its average volume of 449,286. The stock has a 50 day moving average price of $29.95 and a two-hundred day moving average price of $32.60. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $2.96 billion, a P/E ratio of 13.79 and a beta of 0.81. WesBanco has a 12 month low of $25.56 and a 12 month high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.06. The business had revenue of $253.23 million for the quarter, compared to the consensus estimate of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same period last year, the business posted $0.56 EPS. Equities analysts predict that WesBanco will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.48 annualized dividend and a dividend yield of 4.79%. WesBanco's payout ratio is currently 96.73%.

Institutional Investors Weigh In On WesBanco

A number of large investors have recently made changes to their positions in WSBC. Vanguard Group Inc. lifted its position in WesBanco by 40.3% during the 1st quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider's stock worth $291,427,000 after acquiring an additional 2,702,469 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of WesBanco by 42.6% in the first quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider's stock valued at $179,358,000 after purchasing an additional 1,730,801 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of WesBanco by 179.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider's stock worth $47,779,000 after purchasing an additional 991,584 shares during the last quarter. Nuveen LLC acquired a new stake in shares of WesBanco during the first quarter worth about $22,282,000. Finally, Wellington Management Group LLP boosted its position in WesBanco by 35.2% in the first quarter. Wellington Management Group LLP now owns 2,456,454 shares of the financial services provider's stock valued at $76,052,000 after buying an additional 640,003 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

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.