BidaskClub cut shares of WesBanco (NASDAQ:WSBC) from a buy rating to a hold rating in a report published on Saturday, December 9th.
Other analysts have also recently issued reports about the company. Boenning Scattergood restated a hold rating on shares of WesBanco in a research report on Friday, October 20th. DA Davidson set a $47.00 price target on WesBanco and gave the stock a buy rating in a research report on Friday, October 20th. They noted that the move was a valuation call. FBR & Co set a $40.00 price target on WesBanco and gave the stock a hold rating in a research report on Friday, October 20th. B. Riley set a $40.00 price target on WesBanco and gave the stock a hold rating in a research report on Tuesday, November 14th. Finally, Zacks Investment Research lowered WesBanco from a hold rating to a sell rating in a research note on Tuesday, October 24th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. WesBanco currently has an average rating of Hold and a consensus price target of $43.00.
WesBanco (NASDAQ:WSBC) traded down $0.07 during trading on Friday, hitting $40.58. The company had a trading volume of 99,924 shares, compared to its average volume of 93,550. WesBanco has a 12-month low of $34.81 and a 12-month high of $44.19. The firm has a market capitalization of $1,810.00, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. 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 (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.03). The company had revenue of $95.15 million during the quarter, compared to analyst estimates 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 firm posted $0.60 earnings per share. analysts expect that WesBanco will post 2.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, December 7th. WesBanco’s dividend payout ratio (DPR) is presently 44.64%.
In related news, Director F Eric Nelson, Jr. sold 12,500 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $42.06, for a total transaction of $525,750.00. Following the transaction, the director now owns 29,717 shares of the company’s stock, valued at approximately $1,249,897.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.05% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of WSBC. Ameritas Investment Partners Inc. lifted its stake in WesBanco by 6.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 229 shares in the last quarter. Sei Investments Co. increased its holdings in WesBanco by 4,236.6% during the 2nd quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 4,279 shares during the period. Amalgamated Bank purchased a new stake in WesBanco during the 2nd quarter worth about $211,000. Victory Capital Management Inc. increased its holdings in WesBanco by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 801 shares during the period. Finally, Stifel Financial Corp purchased a new stake in WesBanco during the 3rd quarter worth about $220,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.
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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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