BidaskClub downgraded shares of WesBanco, Inc. (NASDAQ:WSBC) from a sell rating to a strong sell rating in a report published on Thursday.
A number of other equities research analysts have also weighed in on WSBC. Zacks Investment Research upgraded WesBanco from a hold rating to a buy rating and set a $44.00 price target on the stock in a research note on Wednesday, June 21st. ValuEngine raised WesBanco from a hold rating to a buy rating in a research note on Saturday, June 3rd. DA Davidson raised WesBanco from a neutral rating to a buy rating and set a $43.00 target price for the company in a research note on Friday, June 2nd. Keefe, Bruyette & Woods set a $42.00 price objective on WesBanco and gave the company a hold rating in a research note on Monday, April 10th. Finally, Stephens reissued an overweight rating on shares of WesBanco in a research note on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $40.40.
Shares of WesBanco (NASDAQ:WSBC) opened at 38.17 on Thursday. The company’s 50-day moving average is $38.88 and its 200-day moving average is $40.02. WesBanco has a 12-month low of $29.44 and a 12-month high of $44.19. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 17.69 and a beta of 0.96.
WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, April 18th. The financial services provider reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. WesBanco had a return on equity of 7.57% and a net margin of 23.39%. The business had revenue of $93.60 million during the quarter, compared to the consensus estimate of $94.82 million. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. Analysts predict that WesBanco will post $2.49 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, June 7th. WesBanco’s payout ratio is 48.15%.
In other news, EVP Gregory A. Dugan sold 8,000 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $40.72, for a total value of $325,760.00. Following the completion of the sale, the executive vice president now owns 13,051 shares of the company’s stock, valued at $531,436.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brent E. Richmond sold 5,000 shares of the company’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $40.86, for a total value of $204,300.00. Following the completion of the sale, the executive vice president now directly owns 23,302 shares of the company’s stock, valued at approximately $952,119.72. The disclosure for this sale can be found here. 4.05% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of WesBanco by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,933 shares of the financial services provider’s stock valued at $557,000 after buying an additional 51 shares during the last quarter. IFP Advisors Inc boosted its position in WesBanco by 0.5% in the first quarter. IFP Advisors Inc now owns 16,894 shares of the financial services provider’s stock valued at $644,000 after buying an additional 92 shares during the period. Schneider Downs Wealth Management Advisors LP boosted its position in WesBanco by 0.6% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 21,816 shares of the financial services provider’s stock valued at $831,000 after buying an additional 120 shares during the period. AMG Funds LLC boosted its position in WesBanco by 1.1% in the first quarter. AMG Funds LLC now owns 21,172 shares of the financial services provider’s stock valued at $807,000 after buying an additional 222 shares during the period. Finally, Blair William & Co. IL boosted its position in WesBanco by 2.3% in the first quarter. Blair William & Co. IL now owns 10,960 shares of the financial services provider’s stock valued at $421,000 after buying an additional 243 shares during the period. 56.95% of the stock is owned by institutional investors.
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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