WesBanco, Inc. (NASDAQ:WSBC) Receives $40.25 Consensus PT from Analysts

WesBanco, Inc. (NASDAQ:WSBC) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $40.25.

WSBC has been the subject of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and set a $41.00 price target on shares of WesBanco in a research report on Wednesday, April 22nd. Zacks Research upgraded shares of WesBanco from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Piper Sandler lifted their price target on WesBanco from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Finally, Weiss Ratings upgraded WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th.

Insider Activity at WesBanco

In related news, Director Joseph R. Robinson purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average price of $34.54 per share, for a total transaction of $34,540.00. Following the purchase, the director owned 19,068 shares in the company, valued at approximately $658,608.72. This represents a 5.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Louis Michael Altman bought 3,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was purchased at an average cost of $33.72 per share, for a total transaction of $101,160.00. Following the transaction, the director directly owned 33,164 shares of the company’s stock, valued at $1,118,290.08. The trade was a 9.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 7,000 shares of company stock worth $236,500. 2.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WSBC. Segall Bryant & Hamill LLC lifted its holdings in shares of WesBanco by 0.7% during the first quarter. Segall Bryant & Hamill LLC now owns 928,768 shares of the financial services provider’s stock worth $32,033,000 after buying an additional 6,784 shares in the last quarter. Bank of America Corp DE grew its stake in shares of WesBanco by 0.9% in the first quarter. Bank of America Corp DE now owns 1,696,850 shares of the financial services provider’s stock valued at $58,524,000 after acquiring an additional 14,397 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of WesBanco by 65.0% in the first quarter. Edgestream Partners L.P. now owns 240,829 shares of the financial services provider’s stock valued at $8,306,000 after acquiring an additional 94,863 shares in the last quarter. Amundi bought a new position in WesBanco during the first quarter worth about $223,000. Finally, California State Teachers Retirement System increased its position in WesBanco by 14.7% during the first quarter. California State Teachers Retirement System now owns 104,510 shares of the financial services provider’s stock worth $3,605,000 after acquiring an additional 13,393 shares during the period. Institutional investors own 61.41% of the company’s stock.

WesBanco Stock Performance

Shares of NASDAQ:WSBC opened at $41.18 on Friday. WesBanco has a fifty-two week low of $29.18 and a fifty-two week high of $41.27. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 13.28 and a beta of 0.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The firm’s 50 day simple moving average is $36.32 and its 200 day simple moving average is $35.40.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The business had revenue of $257.23 million for the quarter, compared to the consensus estimate of $264.52 million. During the same quarter last year, the business posted $0.66 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that WesBanco will post 3.59 earnings per share for the current year.

WesBanco declared that its board has approved a share buyback program on Wednesday, May 20th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.52 annualized dividend and a yield of 3.7%. WesBanco’s dividend payout ratio (DPR) is currently 49.03%.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.