DA Davidson Reiterates “$48.00” Price Target for WesBanco (WSBC)
DA Davidson set a $48.00 target price on WesBanco (NASDAQ:WSBC) in a research note released on Thursday. The brokerage currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for WesBanco’s Q2 2018 earnings at $0.64 EPS, Q1 2019 earnings at $0.72 EPS, Q2 2019 earnings at $0.72 EPS, Q3 2019 earnings at $0.71 EPS and FY2019 earnings at $2.85 EPS.
WSBC has been the subject of a number of other research reports. Sandler O’Neill lowered shares of WesBanco from a buy rating to a hold rating in a research note on Friday, October 20th. Boenning Scattergood restated a hold rating on shares of WesBanco in a research note on Friday, October 20th. FBR & Co set a $40.00 price target on shares of WesBanco and gave the stock a hold rating in a research note on Friday, October 20th. Keefe, Bruyette & Woods restated a hold rating and issued a $41.00 price target on shares of WesBanco in a research note on Tuesday, October 3rd. Finally, BidaskClub lowered shares of WesBanco from a buy rating to a hold rating in a research note on Saturday, December 9th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $42.25.
WesBanco (WSBC) opened at $41.26 on Thursday. WesBanco has a 12-month low of $34.81 and a 12-month high of $44.19. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $1,820.00, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.04 annualized dividend and a yield of 2.52%. WesBanco’s payout ratio is 44.64%.
In other WesBanco news, Director F Eric Nelson, Jr. sold 12,500 shares of the business’s 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 completion of the sale, the director now owns 29,717 shares in the company, valued at $1,249,897.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.05% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its holdings in WesBanco by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,419 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 32 shares during the period. Blair William & Co. IL lifted its holdings in WesBanco by 0.7% in the second quarter. Blair William & Co. IL now owns 11,033 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 73 shares during the period. AMG Funds LLC lifted its holdings in WesBanco by 0.5% in the second quarter. AMG Funds LLC now owns 21,270 shares of the financial services provider’s stock worth $841,000 after purchasing an additional 98 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in WesBanco by 0.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 29,070 shares of the financial services provider’s stock worth $1,149,000 after purchasing an additional 155 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its holdings in WesBanco by 6.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 59.11% of the company’s stock.
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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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