WesBanco (NASDAQ:WSBC) Given Equal Weight Rating at Stephens

Stephens reaffirmed their equal weight rating on shares of WesBanco (NASDAQ:WSBC) in a report published on Thursday morning,Benzinga reports. They currently have a $39.00 target price on the financial services provider’s stock.

Separately, Raymond James raised WesBanco from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $35.00 to $44.00 in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

WesBanco Price Performance

WSBC opened at $34.16 on Thursday. The firm has a market capitalization of $2.28 billion, a PE ratio of 15.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The business’s 50-day moving average is $33.72 and its two-hundred day moving average is $32.12. WesBanco has a 1 year low of $25.56 and a 1 year high of $37.36.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. Research analysts anticipate that WesBanco will post 3.09 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, December 6th. This is a positive change from WesBanco’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.33%. WesBanco’s payout ratio is 66.07%.

Insider Activity at WesBanco

In related news, EVP Michael L. Perkins sold 1,125 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $34.87, for a total value of $39,228.75. Following the sale, the executive vice president now owns 46,817 shares in the company, valued at $1,632,508.79. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.44% of the stock is owned by insiders.

Hedge Funds Weigh In On WesBanco

A number of institutional investors have recently bought and sold shares of WSBC. Quarry LP increased its stake in shares of WesBanco by 215.3% in the second quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 913 shares during the period. Point72 Asset Management L.P. acquired a new position in WesBanco during the third quarter valued at $56,000. CWM LLC boosted its holdings in WesBanco by 175.2% in the third quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,319 shares during the last quarter. Roble Belko & Company Inc acquired a new stake in WesBanco during the 4th quarter worth about $78,000. Finally, nVerses Capital LLC purchased a new position in shares of WesBanco during the 3rd quarter valued at about $80,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

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.