WesBanco, Inc. (NASDAQ:WSBC) Receives Average Recommendation of “Hold” from Brokerages

Shares of WesBanco, Inc. (NASDAQ:WSBC – Get Free Report) have earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.20.

WSBC has been the topic of several recent research reports. StockNews.com downgraded WesBanco from a “hold” rating to a “sell” rating in a research note on Thursday. Hovde Group upgraded WesBanco from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 13th. Finally, Piper Sandler raised their price objective on WesBanco from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 31st.

Check Out Our Latest Research Report on WesBanco

Institutional Investors Weigh In On WesBanco

A number of institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. boosted its holdings in shares of WesBanco by 49.9% during the second quarter. Osaic Holdings Inc. now owns 51,811 shares of the financial services provider’s stock worth $1,327,000 after acquiring an additional 17,248 shares during the period. Legato Capital Management LLC boosted its holdings in shares of WesBanco by 30.4% during the second quarter. Legato Capital Management LLC now owns 26,472 shares of the financial services provider’s stock worth $678,000 after acquiring an additional 6,169 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of WesBanco by 29.2% during the second quarter. Nuveen Asset Management LLC now owns 488,466 shares of the financial services provider’s stock worth $12,510,000 after acquiring an additional 110,397 shares during the period. Bridge City Capital LLC boosted its holdings in shares of WesBanco by 30.5% during the second quarter. Bridge City Capital LLC now owns 74,534 shares of the financial services provider’s stock worth $1,909,000 after acquiring an additional 17,427 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of WesBanco by 0.6% during the second quarter. Wells Fargo & Company MN now owns 369,667 shares of the financial services provider’s stock worth $9,467,000 after acquiring an additional 2,163 shares during the period. Institutional investors own 59.34% of the company’s stock.

WesBanco Stock Performance

Shares of WesBanco stock opened at $23.50 on Monday. The stock’s fifty day simple moving average is $26.23 and its 200 day simple moving average is $26.79. WesBanco has a 12 month low of $19.84 and a 12 month high of $41.37. The company has a market capitalization of $1.39 billion, a PE ratio of 7.65 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.72.

WesBanco (NASDAQ:WSBC – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. WesBanco had a return on equity of 8.49% and a net margin of 26.04%. The firm had revenue of $153.41 million for the quarter, compared to the consensus estimate of $151.14 million. During the same quarter last year, the business posted $0.67 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts predict that WesBanco will post 2.61 EPS for the current year.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date of this dividend is Thursday, September 7th. WesBanco’s payout ratio is currently 45.60%.

WesBanco Company Profile

(Get Free Report

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services.

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