WesBanco, Inc. (NASDAQ:WSBC) Stock Has Consensus Target Price of $43.20

WesBanco, Inc. (NASDAQ:WSBC) has been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. Three 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 12-month price objective among brokerages that have covered the stock in the last year is $43.20.

Several equities research analysts recently weighed in on WSBC shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $44.00 price target on shares of WesBanco in a research report on Monday, September 14th. Zacks Research upgraded shares of WesBanco from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. DA Davidson set a $46.00 price objective on shares of WesBanco in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $42.00 target price on shares of WesBanco in a report on Thursday, July 23rd. Finally, Piper Sandler upped their target price on shares of WesBanco from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, June 26th.

WesBanco Price Performance

Shares of WesBanco stock opened at $38.66 on Wednesday. The stock has a 50 day moving average of $40.78 and a 200 day moving average of $37.36. WesBanco has a 12 month low of $29.57 and a 12 month high of $43.02. The firm has a market cap of $3.71 billion, a PE ratio of 11.24 and a beta of 0.66. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.43.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.07. The business had revenue of $275.79 million during the quarter, compared to analysts’ expectations of $267.71 million. WesBanco had a return on equity of 9.72% and a net margin of 23.35%. On average, research analysts expect that WesBanco will post 3.58 EPS for the current fiscal year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 4th. WesBanco’s payout ratio is presently 44.19%.

Insider Activity at WesBanco

In other news, EVP Jan Pattishall-Krupinski sold 2,250 shares of WesBanco stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $41.45, for a total value of $93,262.50. Following the completion of the transaction, the executive vice president owned 33,674 shares in the company, valued at approximately $1,395,787.30. The trade was a 6.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jayson M. Zatta sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $41.80, for a total value of $522,500.00. Following the transaction, the executive vice president directly owned 81,082 shares in the company, valued at approximately $3,389,227.60. This represents a 13.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,195 shares of company stock valued at $1,465,800 over the last ninety days. 2.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of WesBanco in the 2nd quarter worth about $363,992,000. Bank of America Corp DE purchased a new stake in WesBanco in the 2nd quarter worth about $84,562,000. Bank of New York Mellon Corp purchased a new stake in WesBanco in the 2nd quarter worth about $36,433,000. Empowered Funds LLC bought a new stake in WesBanco in the second quarter worth about $16,391,000. Finally, Aristotle Capital Boston LLC bought a new stake in WesBanco in the fourth quarter worth about $11,279,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Company Profile

WesBanco, Inc (NASDAQ: WSBC) is a financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides community banking services to individuals, businesses and institutions.

WesBanco’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other deposit and lending products. The company also provides trust, investment management and brokerage services through its wealth management operations, along with insurance and employee benefit solutions in select markets.

Founded in 1870, WesBanco serves customers through a network of banking offices and financial service locations across West Virginia, Ohio, Pennsylvania, Kentucky and Indiana.