WesBanco (NASDAQ:WSBC) PT Raised to $34.00 at Stephens

WesBanco (NASDAQ:WSBC) had its price objective hoisted by Stephens from $27.00 to $34.00 in a report published on Tuesday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other research firms have also weighed in on WSBC. DA Davidson upped their price objective on WesBanco from $35.00 to $42.00 and gave the stock a buy rating in a research note on Monday, July 29th. Royal Bank of Canada upped their price objective on WesBanco from $32.00 to $35.00 and gave the stock a sector perform rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective on WesBanco from $30.00 to $34.00 and gave the stock a market perform rating in a research note on Thursday, August 1st. Finally, Hovde Group upped their price objective on WesBanco from $34.00 to $38.00 and gave the stock an outperform rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $34.71.

WesBanco Stock Performance

NASDAQ:WSBC opened at $30.08 on Tuesday. The stock has a 50-day simple moving average of $28.90 and a two-hundred day simple moving average of $28.71. WesBanco has a 52-week low of $23.00 and a 52-week high of $34.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $1.79 billion, a PE ratio of 12.53 and a beta of 0.84.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $234.35 million during the quarter, compared to analysts’ expectations of $148.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.90%. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Analysts forecast that WesBanco will post 2.1 EPS for the current year.

WesBanco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend was Friday, June 7th. WesBanco’s payout ratio is presently 60.00%.

Insider Activity at WesBanco

In related news, EVP Michael L. Perkins sold 5,363 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total transaction of $161,908.97. Following the completion of the transaction, the executive vice president now directly owns 46,817 shares of the company’s stock, valued at $1,413,405.23. The sale was disclosed in a filing with the SEC, which is available through this link. 3.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WesBanco

Institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its stake in shares of WesBanco by 105.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,820 shares of the financial services provider’s stock valued at $1,038,000 after purchasing an additional 17,345 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 48,304 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of WesBanco by 3,037.0% in the 4th quarter. International Assets Investment Management LLC now owns 102,549 shares of the financial services provider’s stock valued at $3,269,000 after purchasing an additional 99,280 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of WesBanco in the 1st quarter valued at approximately $3,555,000. Finally, Greylin Investment Management Inc bought a new stake in shares of WesBanco in the 4th quarter valued at approximately $246,000. 61.41% of the stock is owned by institutional investors.

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.