WesBanco (NASDAQ:WSBC) Price Target Cut to $27.00 by Analysts at Stephens

WesBanco (NASDAQ:WSBC) had its price objective cut by Stephens from $30.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the company. Hovde Group cut their price target on WesBanco from $36.00 to $34.00 and set an outperform rating on the stock in a research note on Wednesday. Raymond James raised WesBanco from a market perform rating to an outperform rating and set a $34.00 price target on the stock in a research note on Friday, January 5th. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $32.00 price target on shares of WesBanco in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $30.67.

WesBanco Trading Down 0.1 %

NASDAQ:WSBC traded down $0.02 during trading hours on Thursday, hitting $27.74. 22,893 shares of the stock were exchanged, compared to its average volume of 199,941. The company’s 50 day moving average is $28.64 and its two-hundred day moving average is $28.23. WesBanco has a twelve month low of $19.84 and a twelve month high of $32.20. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $1.65 billion, a P/E ratio of 11.57 and a beta of 0.86.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. WesBanco had a return on equity of 6.54% and a net margin of 17.52%. The firm had revenue of $225.96 million for the quarter, compared to the consensus estimate of $147.81 million. During the same quarter in the prior year, the business earned $0.71 EPS. On average, sell-side analysts anticipate that WesBanco will post 2.27 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.19%. WesBanco’s dividend payout ratio is 60.00%.

Institutional Investors Weigh In On WesBanco

Several hedge funds have recently bought and sold shares of WSBC. FMR LLC lifted its stake in WesBanco by 3,621.1% in the 3rd quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock valued at $12,471,000 after purchasing an additional 496,958 shares during the last quarter. Norges Bank acquired a new stake in WesBanco in the 4th quarter valued at about $8,620,000. Earnest Partners LLC lifted its position in WesBanco by 10.5% during the third quarter. Earnest Partners LLC now owns 1,484,752 shares of the financial services provider’s stock worth $36,258,000 after acquiring an additional 140,870 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in WesBanco by 100.0% during the third quarter. Envestnet Asset Management Inc. now owns 235,297 shares of the financial services provider’s stock worth $5,746,000 after acquiring an additional 117,635 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in WesBanco by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,966 shares of the financial services provider’s stock worth $18,632,000 after acquiring an additional 106,300 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.