WesBanco, Inc. (NASDAQ:WSBC) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• WesBanco has a “Moderate Buy” consensus rating from six analysts, with an average 12-month price target of $40.25. Recent analyst actions included price-target increases and rating upgrades from firms like Piper Sandler and Weiss Ratings.
• The company reported better-than-expected quarterly EPS of $0.91, beating consensus by $0.05, though revenue came in below estimates and was down 3.1% year over year. Analysts currently expect WesBanco to earn $3.59 per share for the full fiscal year.
• WesBanco is returning capital to shareholders through a 3.9% dividend yield and a newly authorized 4 million share buyback program. Insiders have also been active, with one executive selling shares and a director buying shares in recent months.

Shares of WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $40.25.

Several equities research analysts recently commented on the company. Weiss Ratings raised WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Piper Sandler upped their price target on shares of WesBanco from $40.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Raymond James Financial reissued a "strong-buy" rating and issued a $41.00 price target on shares of WesBanco in a report on Thursday, March 12th. Zacks Research raised shares of WesBanco from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Finally, DA Davidson reaffirmed a "buy" rating and issued a $41.00 price objective on shares of WesBanco in a research note on Wednesday, April 22nd.

Insider Buying and Selling

In other WesBanco news, EVP Jan Pattishall-Krupinski sold 4,500 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $36.71, for a total value of $165,195.00. Following the transaction, the executive vice president owned 35,924 shares of the company's stock, valued at approximately $1,318,770.04. This represents a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Louis Michael Altman bought 3,000 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average price of $33.72 per share, for a total transaction of $101,160.00. Following the completion of the acquisition, the director directly owned 33,164 shares in the company, valued at approximately $1,118,290.08. The trade was a 9.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 7,000 shares of company stock worth $236,500 over the last three months. Corporate insiders own 2.07% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Covestor Ltd grew its position in WesBanco by 12,500.0% during the 4th quarter. Covestor Ltd now owns 756 shares of the financial services provider's stock worth $25,000 after purchasing an additional 750 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in WesBanco during the 4th quarter valued at $29,000. GAMMA Investing LLC lifted its holdings in shares of WesBanco by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 324 shares in the last quarter. First Horizon Corp lifted 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 valued at $43,000 after purchasing an additional 464 shares in the last quarter. Finally, Federated Hermes Inc. boosted 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 worth $45,000 after buying an additional 600 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Stock Up 1.1%

WesBanco stock opened at $38.87 on Friday. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 12.54 and a beta of 0.67. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company's 50-day moving average price is $35.78 and its two-hundred day moving average price is $35.21. WesBanco has a 52 week low of $29.18 and a 52 week high of $40.33.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $257.23 million during the quarter, compared to analyst estimates of $264.52 million. WesBanco had a net margin of 21.12% and a return on equity of 9.76%. The business's revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. On average, analysts expect that WesBanco will post 3.59 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 5th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Friday, June 5th. WesBanco's dividend payout ratio (DPR) is presently 49.03%.

WesBanco announced that its Board of Directors has authorized a share buyback program on Wednesday, May 20th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

WesBanco Company Profile

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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