Brokerages Set WesBanco, Inc. (NASDAQ:WSBC) Price Target at $30.60

WesBanco, Inc. (NASDAQ:WSBC) has received an average recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $30.60.

A number of equities research analysts have weighed in on the company. Hovde Group reduced their price objective on WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 price target on shares of WesBanco in a research note on Tuesday, April 9th. Finally, Stephens dropped their price objective on shares of WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of WesBanco by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,979,494 shares of the financial services provider’s stock worth $146,019,000 after purchasing an additional 71,928 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in shares of WesBanco by 2.4% during the first quarter. Wesbanco Bank Inc. now owns 1,681,782 shares of the financial services provider’s stock valued at $50,134,000 after buying an additional 39,808 shares during the period. Earnest Partners LLC boosted its position in WesBanco by 10.5% during the third quarter. Earnest Partners LLC now owns 1,484,752 shares of the financial services provider’s stock worth $36,258,000 after acquiring an additional 140,870 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in WesBanco by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,270 shares of the financial services provider’s stock valued at $25,450,000 after acquiring an additional 48,304 shares during the last quarter. Finally, FMR LLC raised its holdings in WesBanco by 3,621.1% in the 3rd quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock valued at $12,471,000 after acquiring an additional 496,958 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Price Performance

Shares of WSBC opened at $27.57 on Friday. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 11.49 and a beta of 0.88. The firm’s fifty day simple moving average is $28.32 and its 200-day simple moving average is $28.74. WesBanco has a twelve month low of $23.00 and a twelve month high of $32.20. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $225.96 million for the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a return on equity of 6.50% and a net margin of 17.52%. During the same quarter in the prior year, the business posted $0.71 EPS. Equities analysts forecast that WesBanco will post 2.21 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, June 7th. This represents a $1.44 annualized dividend and a yield of 5.22%. WesBanco’s dividend payout ratio (DPR) is currently 60.00%.

About WesBanco

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.