WesBanco (NASDAQ:WSBC) Coverage Initiated by Analysts at Piper Sandler

Equities researchers at Piper Sandler began coverage on shares of WesBanco (NASDAQ:WSBC) in a research report issued on Thursday. The brokerage set an “overweight” rating and a $37.00 price target on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 19.16% from the stock’s previous close.

A number of other research analysts have also issued reports on WSBC. DA Davidson upped their price target on shares of WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Stephens reissued an “equal weight” rating and issued a $39.00 target price on shares of WesBanco in a research report on Thursday, January 23rd. Raymond James lowered their price target on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods upgraded WesBanco from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $44.00 in a research note on Monday, February 10th. Finally, StockNews.com raised shares of WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.43.

WesBanco Stock Up 1.3 %

Shares of WSBC stock opened at $31.05 on Thursday. The stock’s fifty day moving average price is $33.82 and its 200 day moving average price is $33.00. WesBanco has a 1-year low of $25.56 and a 1-year high of $37.36. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 13.86 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping 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%. On average, research analysts expect that WesBanco will post 3.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in WesBanco during the third quarter worth about $116,114,000. Vanguard Group Inc. increased its holdings in shares of WesBanco by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider’s stock worth $218,361,000 after buying an additional 705,483 shares during the last quarter. Earnest Partners LLC raised its position in shares of WesBanco by 27.1% during the 4th quarter. Earnest Partners LLC now owns 1,777,002 shares of the financial services provider’s stock valued at $57,824,000 after buying an additional 379,386 shares during the period. Barclays PLC lifted its holdings in WesBanco by 104.8% in the fourth quarter. Barclays PLC now owns 371,347 shares of the financial services provider’s stock valued at $12,084,000 after acquiring an additional 190,022 shares during the last quarter. Finally, MCF Advisors LLC grew its holdings in shares of WesBanco by 17,801.0% during the 4th quarter. MCF Advisors LLC now owns 170,955 shares of the financial services provider’s stock worth $5,626,000 after purchasing an additional 170,000 shares during the period. Institutional investors and hedge funds own 61.41% of the company’s stock.

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.