WesBanco (NASDAQ:WSBC) Given New $45.00 Price Target at DA Davidson

WesBanco (NASDAQ:WSBC) had its price target hoisted by DA Davidson from $44.00 to $45.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on the company. StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Raymond James upgraded shares of WesBanco from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $35.00 to $44.00 in a research report on Friday, December 6th. Finally, Stephens restated an “equal weight” rating and issued a $39.00 price target on shares of WesBanco in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, WesBanco has an average rating of “Moderate Buy” and a consensus price target of $39.17.

WesBanco Trading Down 0.1 %

WSBC stock opened at $35.00 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco has a 52-week low of $25.56 and a 52-week high of $37.36. The company’s 50-day simple moving average is $33.71 and its 200-day simple moving average is $32.25. The firm has a market cap of $2.34 billion, a P/E ratio of 15.63 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. As a group, equities analysts forecast that WesBanco will post 3.09 EPS for the current fiscal year.

WesBanco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.23%. The ex-dividend date was Friday, December 6th. This is an increase from WesBanco’s previous quarterly dividend of $0.36. WesBanco’s dividend payout ratio (DPR) is 66.07%.

Insider Transactions at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 46,817 shares in the company, valued at $1,632,508.79. This represents a 2.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.44% of the company’s stock.

Institutional Trading of WesBanco

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP raised its position in shares of WesBanco by 215.3% during 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 in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of WesBanco in the 3rd quarter valued at $56,000. CWM LLC lifted its position 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 last quarter. Roble Belko & Company Inc purchased a new position in shares of WesBanco during the fourth quarter worth about $78,000. Finally, Hilltop National Bank increased its position in shares of WesBanco by 19.6% during the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 413 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

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.