WesBanco (NASDAQ:WSBC) Price Target Lowered to $27.00 at Stephens

WesBanco (NASDAQ:WSBC) had its target price lowered by Stephens from $30.00 to $27.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on WSBC. Raymond James raised shares of WesBanco from a market perform rating to an outperform rating and set a $34.00 target price for the company in a report on Friday, January 5th. Royal Bank of Canada reiterated a sector perform rating and issued a $32.00 price target on shares of WesBanco in a research report on Tuesday, April 9th. Finally, Hovde Group lowered their price target on shares of WesBanco from $36.00 to $34.00 and set an outperform rating on the stock in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $30.60.

WesBanco Trading Down 0.9 %

Shares of WesBanco stock opened at $27.52 on Thursday. WesBanco has a 12-month low of $19.84 and a 12-month high of $32.20. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a market cap of $1.63 billion, a PE ratio of 11.47 and a beta of 0.86. The company has a 50-day moving average of $28.57 and a two-hundred day moving average of $28.29.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. The company had revenue of $225.96 million during the quarter, compared to analysts’ expectations of $147.81 million. During the same period last year, the company posted $0.71 earnings per share. On average, research analysts anticipate that WesBanco will post 2.24 EPS for the current fiscal year.

WesBanco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend was Thursday, March 7th. WesBanco’s dividend payout ratio (DPR) is 60.00%.

Institutional Investors Weigh In On WesBanco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wesbanco Bank Inc. grew its holdings in WesBanco by 2.4% during the 1st quarter. Wesbanco Bank Inc. now owns 1,681,782 shares of the financial services provider’s stock worth $50,134,000 after acquiring an additional 39,808 shares in the last quarter. Founders Financial Securities LLC grew its holdings in WesBanco by 6.1% during the 1st quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 436 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in WesBanco during the 1st quarter worth $222,000. Bridge City Capital LLC grew its holdings in WesBanco by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock worth $2,522,000 after acquiring an additional 663 shares in the last quarter. Finally, Moody National Bank Trust Division grew its holdings in WesBanco by 17.5% during the 1st quarter. Moody National Bank Trust Division now owns 17,165 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 2,552 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

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.