WesBanco (NASDAQ:WSBC) Reaches New 52-Week High – What’s Next?

WesBanco, Inc. (NASDAQ:WSBC)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $37.25 and last traded at $37.10, with a volume of 43587 shares changing hands. The stock had previously closed at $36.45.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WSBC. DA Davidson boosted their price target on WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $35.00 price objective on shares of WesBanco in a research report on Monday, September 9th. Hovde Group upped their target price on WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Stephens upped their price objective on WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.17.

WesBanco Stock Up 1.2 %

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market cap of $2.47 billion, a PE ratio of 17.82 and a beta of 0.81. The firm has a fifty day moving average of $31.75 and a 200 day moving average of $30.21.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $243.34 million for the quarter, compared to analyst estimates of $152.40 million. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. During the same period last year, the firm posted $0.59 earnings per share. On average, equities research analysts anticipate that WesBanco, Inc. will post 2.14 EPS for the current fiscal year.

WesBanco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a $0.37 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.48 dividend on an annualized basis and a yield of 4.01%. This is an increase from WesBanco’s previous quarterly dividend of $0.36. WesBanco’s dividend payout ratio (DPR) is presently 70.81%.

Insider Activity

In other news, EVP Michael L. Perkins sold 1,125 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $34.87, for a total transaction of $39,228.75. Following the transaction, the executive vice president now directly owns 46,817 shares of the company’s stock, valued at $1,632,508.79. This represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On WesBanco

A number of large investors have recently added to or reduced their stakes in the business. Inspire Investing LLC boosted its position in shares of WesBanco by 4.6% in the second quarter. Inspire Investing LLC now owns 12,630 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 560 shares during the last quarter. Raymond James Trust N.A. increased its position in WesBanco by 3.9% in the second quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock worth $485,000 after buying an additional 647 shares during the period. Harbor Capital Advisors Inc. raised its stake in WesBanco by 3.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,590 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 668 shares in the last quarter. Cerity Partners LLC boosted its stake in WesBanco by 3.0% during the third quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider’s stock valued at $895,000 after buying an additional 867 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of WesBanco by 215.3% in the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 913 shares during the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Company Profile

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.