WesBanco (NASDAQ:WSBC) Upgraded at StockNews.com

StockNews.com upgraded shares of WesBanco (NASDAQ:WSBC) from a sell rating to a hold rating in a research note issued to investors on Friday.

Other research analysts have also issued reports about the company. Raymond James raised WesBanco from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $35.00 to $44.00 in a research report on Friday, December 6th. Stephens reaffirmed an “equal weight” rating and issued a $39.00 price objective on shares of WesBanco in a research report on Thursday. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

WesBanco Stock Up 2.2 %

NASDAQ:WSBC opened at $34.16 on Friday. The company’s 50-day simple moving average is $33.72 and its 200-day simple moving average is $32.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. WesBanco has a fifty-two week low of $25.56 and a fifty-two week high of $37.36. The stock has a market capitalization of $2.28 billion, a P/E ratio of 15.25 and a beta of 0.85.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. On average, equities analysts anticipate that WesBanco will post 3.09 earnings per share for the current fiscal year.

WesBanco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, December 6th. This is a positive change from WesBanco’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.33%. WesBanco’s dividend payout ratio is currently 66.07%.

Insider Transactions at WesBanco

In related news, EVP Michael L. Perkins sold 1,125 shares of the firm’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 completion of the transaction, the executive vice president now owns 46,817 shares of the company’s stock, valued at $1,632,508.79. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.44% of the company’s stock.

Institutional Investors Weigh In On WesBanco

Several hedge funds have recently added to or reduced their stakes in WSBC. Quarry LP lifted 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 valued at $37,000 after buying an additional 913 shares during the period. Point72 Asset Management L.P. acquired a new position in WesBanco in the third quarter valued at approximately $56,000. CWM LLC lifted its holdings in WesBanco by 175.2% in the third quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,319 shares during the period. Roble Belko & Company Inc purchased a new stake in WesBanco in the 4th quarter worth approximately $78,000. Finally, nVerses Capital LLC acquired a new stake in shares of WesBanco during the 3rd quarter worth approximately $80,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

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.