Brokerages Set WesBanco, Inc. (NASDAQ:WSBC) PT at $38.71

Shares of WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $38.71.

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

Institutional Trading of WesBanco

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

WesBanco Stock Down 1.5%

WesBanco stock traded down $0.45 during mid-day trading on Thursday, reaching $30.33. The stock had a trading volume of 511,828 shares, compared to its average volume of 450,532. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. WesBanco has a fifty-two week low of $25.56 and a fifty-two week high of $37.36. The stock's 50-day simple moving average is $29.92 and its 200-day simple moving average is $32.52. The firm has a market capitalization of $2.90 billion, a PE ratio of 13.54 and a beta of 0.81.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million for the quarter, compared to analysts' expectations of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same quarter in the previous year, the firm earned $0.56 earnings per share. On average, sell-side analysts forecast 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. Investors of record on Friday, June 6th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.88%. WesBanco's payout ratio is 96.73%.

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.