WesBanco (NASDAQ:WSBC) Given New $34.00 Price Target at Hovde Group

WesBanco (NASDAQ:WSBC) had its target price decreased by Hovde Group from $36.00 to $34.00 in a report published on Wednesday morning, MarketBeat reports. Hovde Group currently has an outperform rating on the financial services provider’s stock.

Several other analysts also recently weighed in on the stock. Raymond James raised shares of WesBanco from a market perform rating to an outperform rating and set a $34.00 price target for the company in a research note on Friday, January 5th. Stephens reissued an equal weight rating and issued a $30.00 price target on shares of WesBanco in a research note on Wednesday. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $32.00 price target on shares of WesBanco in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, WesBanco presently has a consensus rating of Hold and a consensus price target of $31.17.

WesBanco Stock Performance

NASDAQ WSBC opened at $28.28 on Wednesday. WesBanco has a 52-week low of $19.84 and a 52-week high of $32.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $1.68 billion, a P/E ratio of 11.78 and a beta of 0.86. The company has a fifty day moving average of $28.64 and a 200-day moving average of $28.23.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, equities research analysts predict that WesBanco will post 2.27 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend was Thursday, March 7th. WesBanco’s payout ratio is 60.00%.

Hedge Funds Weigh In On WesBanco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wesbanco Bank Inc. increased its position in shares of WesBanco by 2.4% during the first quarter. Wesbanco Bank Inc. now owns 1,681,782 shares of the financial services provider’s stock valued at $50,134,000 after buying an additional 39,808 shares during the period. Founders Financial Securities LLC grew its holdings in WesBanco by 6.1% in the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 436 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in WesBanco in the first quarter worth about $222,000. Bridge City Capital LLC grew its holdings in WesBanco by 0.8% in the first quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock worth $2,522,000 after purchasing an additional 663 shares during the period. Finally, Moody National Bank Trust Division grew its holdings in WesBanco by 17.5% in the first quarter. Moody National Bank Trust Division now owns 17,165 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 2,552 shares during the period. Hedge funds and other institutional investors 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.