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

Key Points

• WesBanco has a consensus analyst rating of “Moderate Buy” from six covering analysts, with an average 12-month price target of $39.50.
• The company recently beat quarterly EPS estimates, reporting $0.91 per share versus expectations of $0.86, and it also authorized a 4 million-share buyback.
• WesBanco announced a quarterly dividend of $0.38 per share, implying an annualized yield of about 4.1%.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) has received a consensus rating of "Moderate Buy" from the six analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $39.50.

A number of research firms have recently weighed in on WSBC. Raymond James Financial reissued a "strong-buy" rating and set a $41.00 target price on shares of WesBanco in a report on Thursday, March 12th. DA Davidson reissued a "buy" rating and set a $41.00 target price on shares of WesBanco in a report on Wednesday, April 22nd. Piper Sandler dropped their target price on WesBanco from $42.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Weiss Ratings raised WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Finally, Zacks Research downgraded WesBanco from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 28th.

WesBanco Stock Performance

WSBC stock opened at $36.77 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The company has a fifty day moving average price of $34.75 and a two-hundred day moving average price of $34.63. WesBanco has a one year low of $29.18 and a one year high of $38.10. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 11.86 and a beta of 0.68.

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

WesBanco announced that its board has authorized a share buyback 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. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.1%. WesBanco's dividend payout ratio (DPR) is currently 49.03%.

Insider Transactions at WesBanco

In related news, Director Lee J. Burdman purchased 3,000 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The stock was acquired at an average price of $33.60 per share, with a total value of $100,800.00. Following the completion of the purchase, the director directly owned 46,772 shares in the company, valued at $1,571,539.20. This trade represents a 6.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph R. Robinson purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average cost of $34.54 per share, with a total value of $34,540.00. Following the purchase, the director owned 19,068 shares of the company's stock, valued at $658,608.72. This represents a 5.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 7,940 shares of company stock valued at $267,299. 2.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd raised its stake in WesBanco by 12,500.0% in the fourth quarter. Covestor Ltd now owns 756 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 750 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in WesBanco by 255.1% in the third quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 574 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in WesBanco in the fourth quarter valued at about $29,000. GAMMA Investing LLC raised its stake in 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. Finally, First Horizon Corp raised its stake in 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. Institutional investors and hedge funds own 61.41% of the company's stock.

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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