Keefe, Bruyette & Woods Issues Pessimistic Forecast for WesBanco (NASDAQ:WSBC) Stock Price

WesBanco (NASDAQ:WSBC - Get Free Report) had its target price reduced by research analysts at Keefe, Bruyette & Woods from $43.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 29.91% from the company's current price.

WSBC has been the topic of several other research reports. StockNews.com upgraded WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. DA Davidson raised their target price on shares of WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a report on Monday, January 27th. Raymond James decreased their price target on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada dropped their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Finally, Piper Sandler initiated coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price objective for the company. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.71.

WesBanco Trading Down 0.9 %

NASDAQ:WSBC traded down $0.29 on Monday, reaching $30.79. 285,243 shares of the company's stock were exchanged, compared to its average volume of 431,791. The business has a fifty day moving average of $30.06 and a 200-day moving average of $32.72. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco has a 52-week low of $25.56 and a 52-week high of $37.36. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 13.75 and a beta of 0.81.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. The company had revenue of $253.23 million for the quarter, compared to analyst estimates of $206.63 million. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. During the same period in the prior year, the business earned $0.56 EPS. As a group, analysts expect that WesBanco will post 3.24 earnings per share for the current year.

Institutional Trading of WesBanco

Large investors have recently made changes to their positions in the company. Barclays PLC boosted its holdings in shares of WesBanco by 151.1% in the third quarter. Barclays PLC now owns 181,325 shares of the financial services provider's stock valued at $5,399,000 after acquiring an additional 109,104 shares during the period. Franklin Resources Inc. acquired a new stake in WesBanco during the 3rd quarter worth $1,148,000. JPMorgan Chase & Co. grew its position in WesBanco by 17.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 232,568 shares of the financial services provider's stock worth $6,926,000 after purchasing an additional 34,008 shares during the last quarter. Hilltop National Bank increased its stake in WesBanco by 19.6% in the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 413 shares during the period. Finally, Moody National Bank Trust Division raised its holdings in shares of WesBanco by 33.0% in the fourth quarter. Moody National Bank Trust Division now owns 29,872 shares of the financial services provider's stock valued at $972,000 after buying an additional 7,405 shares during the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Company Profile

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.