BidaskClub upgraded shares of WesBanco (NASDAQ:WSBC) from a sell rating to a hold rating in a report issued on Wednesday.
Several other research firms also recently issued reports on WSBC. Zacks Investment Research downgraded shares of WesBanco from a buy rating to a hold rating in a research report on Wednesday, February 14th. DA Davidson set a $48.00 price objective on shares of WesBanco and gave the stock a buy rating in a report on Thursday, December 21st. Boenning Scattergood reaffirmed a hold rating on shares of WesBanco in a report on Tuesday, November 14th. Finally, B. Riley set a $40.00 price objective on shares of WesBanco and gave the stock a hold rating in a report on Tuesday, November 14th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. WesBanco has a consensus rating of Hold and a consensus price target of $43.00.
Shares of WesBanco (WSBC) opened at $44.27 on Wednesday. WesBanco has a 52-week low of $34.81 and a 52-week high of $44.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $1,924.36, a price-to-earnings ratio of 17.76, a P/E/G ratio of 1.49 and a beta of 0.92.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. WesBanco had a net margin of 22.43% and a return on equity of 7.81%. The business had revenue of $96.12 million during the quarter, compared to the consensus estimate of $98.48 million. During the same quarter last year, the firm posted $0.59 EPS. equities analysts forecast that WesBanco will post 2.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.62%. This is an increase from WesBanco’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, March 8th. WesBanco’s payout ratio is currently 53.95%.
In other WesBanco news, Director F Eric Nelson, Jr. sold 12,500 shares of WesBanco stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $42.06, for a total transaction of $525,750.00. Following the transaction, the director now directly owns 29,717 shares of the company’s stock, valued at approximately $1,249,897.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denise H. Knouse-Snyder acquired 1,575 shares of the business’s stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $41.44 per share, for a total transaction of $65,268.00. Following the completion of the acquisition, the director now directly owns 2,000 shares in the company, valued at $82,880. The disclosure for this purchase can be found here. 4.05% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in WesBanco by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,477,995 shares of the financial services provider’s stock worth $142,667,000 after acquiring an additional 48,481 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of WesBanco by 2.3% in the 4th quarter. BlackRock Inc. now owns 2,813,716 shares of the financial services provider’s stock worth $114,377,000 after buying an additional 64,509 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of WesBanco by 5.0% in the 4th quarter. Earnest Partners LLC now owns 1,724,735 shares of the financial services provider’s stock worth $70,110,000 after buying an additional 82,883 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of WesBanco by 11.1% in the 3rd quarter. Macquarie Group Ltd. now owns 1,525,400 shares of the financial services provider’s stock worth $62,572,000 after buying an additional 152,280 shares during the last quarter. Finally, River Road Asset Management LLC boosted its holdings in shares of WesBanco by 20.5% in the 4th quarter. River Road Asset Management LLC now owns 647,286 shares of the financial services provider’s stock worth $26,312,000 after buying an additional 110,089 shares during the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.
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WesBanco Company Profile
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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