WesBanco, Inc. (NASDAQ:WSBC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of WesBanco, Inc. (NASDAQ:WSBC) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $40.00.

A number of analysts have issued reports on WSBC shares. DA Davidson downgraded shares of WesBanco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Piper Sandler began coverage on WesBanco in a research note on Wednesday, December 17th. They set an “overweight” rating and a $42.00 price objective on the stock. Wall Street Zen downgraded WesBanco from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Royal Bank Of Canada boosted their price target on WesBanco from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of WesBanco in a research note on Monday, December 22nd.

WesBanco Trading Down 0.2%

Shares of NASDAQ:WSBC opened at $34.14 on Monday. WesBanco has a 52-week low of $26.42 and a 52-week high of $37.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $3.28 billion, a P/E ratio of 17.42 and a beta of 0.81. The company has a 50-day simple moving average of $32.24 and a 200 day simple moving average of $31.99.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.05. The business had revenue of $261.58 million during the quarter, compared to analysts’ expectations of $263.38 million. WesBanco had a return on equity of 8.28% and a net margin of 13.91%.During the same period last year, the firm posted $0.54 EPS. Sell-side analysts forecast that WesBanco will post 3.24 earnings per share for the current year.

WesBanco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, December 5th. This is a boost from WesBanco’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 4.5%. WesBanco’s dividend payout ratio is currently 77.55%.

Insider Buying and Selling at WesBanco

In other WesBanco news, Director Zahid Afzal purchased 3,321 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were bought at an average price of $30.11 per share, for a total transaction of $99,995.31. Following the purchase, the director owned 13,223 shares in the company, valued at approximately $398,144.53. This trade represents a 33.54% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director F Eric Nelson, Jr. sold 752 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $33.37, for a total value of $25,094.24. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in WesBanco during the 2nd quarter worth $26,000. Smartleaf Asset Management LLC increased its stake in shares of WesBanco by 255.1% in the third quarter. Smartleaf Asset Management LLC now owns 799 shares of the financial services provider’s stock valued at $26,000 after buying an additional 574 shares during the period. First Horizon Corp bought a new position in WesBanco in the 3rd quarter valued at approximately $27,000. True Wealth Design LLC boosted its position in WesBanco by 77.9% during the 3rd quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock worth $28,000 after buying an additional 384 shares during the period. Finally, Federated Hermes Inc. grew its holdings in WesBanco by 71.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,435 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 600 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors.

About WesBanco

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.