WesBanco (NASDAQ:WSBC) Given New $34.00 Price Target at Keefe, Bruyette & Woods

WesBanco (NASDAQ:WSBC) had its price target lifted by Keefe, Bruyette & Woods from $30.00 to $34.00 in a research note released on Thursday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Hovde Group increased their price target on shares of WesBanco from $34.00 to $38.00 and gave the company an outperform rating in a report on Monday, July 29th. DA Davidson lifted their target price on shares of WesBanco from $35.00 to $42.00 and gave the stock a buy rating in a research report on Monday, July 29th. Royal Bank of Canada increased their price objective on shares of WesBanco from $32.00 to $35.00 and gave the stock a sector perform rating in a research report on Monday, July 29th. Finally, Stephens dropped their price target on WesBanco from $30.00 to $27.00 and set an equal weight rating on the stock in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $33.71.

WesBanco Price Performance

Shares of WSBC stock opened at $30.44 on Thursday. The firm has a fifty day moving average of $28.68 and a 200-day moving average of $28.68. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 12.68 and a beta of 0.84. WesBanco has a 12-month low of $23.00 and a 12-month high of $34.85.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $234.35 million during the quarter, compared to analyst estimates of $148.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.92%. During the same quarter last year, the business earned $0.71 earnings per share. On average, equities research analysts forecast that WesBanco will post 2.1 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend was Friday, June 7th. WesBanco’s dividend payout ratio is presently 60.00%.

Hedge Funds Weigh In On WesBanco

A number of large investors have recently bought and sold shares of WSBC. Smithfield Trust Co raised its holdings in WesBanco by 0.9% during the 1st quarter. Smithfield Trust Co now owns 49,575 shares of the financial services provider’s stock valued at $1,478,000 after buying an additional 423 shares during the last quarter. Founders Financial Securities LLC boosted its holdings in shares of WesBanco by 6.1% during the 1st quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock valued at $227,000 after buying an additional 436 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of WesBanco by 3.9% during the second quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 647 shares in the last quarter. US Bancorp DE boosted its position in shares of WesBanco by 1.0% in the 4th quarter. US Bancorp DE now owns 63,263 shares of the financial services provider’s stock worth $1,985,000 after purchasing an additional 657 shares in the last quarter. Finally, Bridge City Capital LLC grew its stake in shares of WesBanco by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock worth $2,522,000 after buying an additional 663 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

About WesBanco

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.