WesBanco, Inc. (NASDAQ: WSBC) received the average “hold” rating from brokerages
Shares of WesBanco, Inc. (NASDAQ: WSBC – Get a rating) have received a consensus recommendation of “Hold” by the six brokerages that currently cover the stock, reports Marketbeat.com. Five research analysts rated the stock with a holding rating. The average 1-year target price among brokerages that have hedged the stock over the past year is $37.67.
WSBC has been the subject of a number of analyst reports. Zacks Investment Research downgraded WesBanco from a “buy” rating to a “hold” rating in a research report on Saturday, January 29. B. Riley raised his price target on WesBanco from $34.00 to $35.00 in a Wednesday, January 12 research report.
NASDAQ: WSBC opened at $35.07 on Friday. WesBanco has a 12-month low of $30.21 and a 12-month high of $39.87. The stock has a 50-day moving average of $36.31 and a two-hundred-day moving average of $35.07. The company has a current ratio of 0.80, a quick ratio of 0.81 and a debt ratio of 0.12. The company has a market capitalization of $2.15 billion, a P/E ratio of 9.96 and a beta of 0.98.
WesBanco (NASDAQ:WSBC – Get a rating) last released its quarterly results on Tuesday, January 25. The financial services provider reported earnings per share (EPS) of $0.82 for the quarter, beating consensus analyst estimates of $0.69 by $0.13. The company posted revenue of $141.04 million in the quarter, versus analyst estimates of $145.33 million. WesBanco achieved a return on equity of 9.32% and a net margin of 39.22%. In the same period a year earlier, the company had earned earnings per share of $0.76. On average, research analysts expect WesBanco to post 2.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 1. Investors of record on Friday, March 11 will receive a dividend of $0.34. The ex-date of this dividend is Thursday, March 10. This is a boost from WesBanco’s previous quarterly dividend of $0.33. This represents a dividend of $1.36 on an annualized basis and a yield of 3.88%. WesBanco’s dividend payout ratio is currently 37.50%.
Separately, director Joseph R. Robinson purchased 3,000 shares of the company in a transaction on Thursday, January 27. The shares were purchased at an average cost of $34.80 per share, for a total transaction of $104,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Also, VPE Jonathan D. Dargusch sold 1,121 shares of the company in a transaction on Tuesday, February 8. The stock was sold at an average price of $36.93, for a total value of $41,398.53. Disclosure of this sale can be found here. Company insiders hold 3.13% of the company’s shares.
A number of large investors have recently increased or reduced their stakes in WSBC. Credit Suisse AG increased its stake in WesBanco by 4.3% during the second quarter. Credit Suisse AG now owns 72,587 shares of the financial services provider worth $2,585,000 after buying an additional 2,999 shares last quarter. Morgan Stanley increased its stake in WesBanco shares by 171.1% in the second quarter. Morgan Stanley now owns 204,113 shares of the financial services provider valued at $7,272,000 after acquiring an additional 128,822 shares last quarter. Royal Bank of Canada increased its stake in WesBanco shares by 55.1% in the second quarter. Royal Bank of Canada now owns 38,419 shares of the financial services provider valued at $1,368,000 after acquiring 13,644 additional shares last quarter. Cubist Systematic Strategies LLC increased its stake in WesBanco shares by 39.5% in the second quarter. Cubist Systematic Strategies LLC now owns 7,897 shares of the financial services provider valued at $281,000 after acquiring 2,237 additional shares in the last quarter. Finally, Amalgamated Bank acquired a new equity stake in WesBanco in the second quarter worth $327,000. Institutional investors hold 60.15% of the company’s shares.
WesBanco Company Profile (Get a rating)
WesBanco, Inc is a bank holding company that provides financial services. It operates through the following segments: Community Banking and Trust and Investment Services. The Community Banking segment provides services traditionally offered by commercial service banks, including commercial current accounts, individual current accounts and term deposit accounts, as well as commercial, mortgage and individual installment loans, and some non-traditional offerings, such as insurance and securities brokerage. services.
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