B. Riley Reiterates “$40.00” Price Target for WesBanco, Inc. (WSBC)
Other research analysts also recently issued reports about the stock. FBR & Co reduced their price objective on shares of WesBanco from $44.00 to $40.00 and set a mkt perform rating on the stock in a research report on Friday, July 21st. BidaskClub cut shares of WesBanco from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. DA Davidson set a $47.00 price objective on shares of WesBanco and gave the stock a buy rating in a research note on Friday, October 20th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of WesBanco from a buy rating to a hold rating in a report on Tuesday, July 25th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of WesBanco in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. WesBanco has a consensus rating of Hold and an average price target of $41.60.
WesBanco (NASDAQ:WSBC) traded up $0.01 on Tuesday, hitting $40.04. 125,790 shares of the company were exchanged, compared to its average volume of 109,601. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.89 and a quick ratio of 0.89. WesBanco has a one year low of $34.81 and a one year high of $44.19. The company has a market capitalization of $1,741.96, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.63 and a beta of 1.00.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The firm had revenue of $95.15 million for the quarter, compared to the consensus estimate of $98.37 million. WesBanco had a net margin of 24.73% and a return on equity of 7.66%. During the same period in the previous year, the business earned $0.60 earnings per share. analysts predict that WesBanco will post 2.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.60%. WesBanco’s dividend payout ratio (DPR) is 44.44%.
In other news, EVP Brent E. Richmond sold 1,440 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $36.83, for a total transaction of $53,035.20. Following the transaction, the executive vice president now owns 22,701 shares in the company, valued at $836,077.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.05% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in WSBC. BlackRock Inc. lifted its holdings in WesBanco by 25,298.2% in the first quarter. BlackRock Inc. now owns 2,653,602 shares of the financial services provider’s stock valued at $101,129,000 after acquiring an additional 2,643,154 shares during the period. Teachers Advisors LLC raised its stake in shares of WesBanco by 386.8% during the 2nd quarter. Teachers Advisors LLC now owns 345,534 shares of the financial services provider’s stock worth $13,662,000 after buying an additional 274,555 shares during the period. Eaton Vance Management acquired a new position in shares of WesBanco during the 2nd quarter worth approximately $9,783,000. River Road Asset Management LLC raised its stake in shares of WesBanco by 41.4% during the 3rd quarter. River Road Asset Management LLC now owns 537,197 shares of the financial services provider’s stock worth $22,036,000 after buying an additional 157,370 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of WesBanco by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 3,461,403 shares of the financial services provider’s stock worth $131,915,000 after buying an additional 152,785 shares during the period. 57.98% of the stock is owned by hedge funds and other institutional investors.
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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