WesBanco (NASDAQ:WSBC) Reaches New 1-Year High at $33.65

WesBanco, Inc. (NASDAQ:WSBC) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $33.65 and last traded at $33.60, with a volume of 30644 shares trading hands. The stock had previously closed at $32.80.

Analyst Ratings Changes

Several research firms have commented on WSBC. Stephens lowered their price target on WesBanco from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Hovde Group reduced their price objective on WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price objective 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 issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, WesBanco has an average rating of “Hold” and an average price target of $30.60.

WesBanco Stock Up 3.1 %

The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 14.03 and a beta of 0.84. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average price of $27.98 and a two-hundred day moving average price of $28.51.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $225.96 million for the quarter, compared to analyst estimates of $147.81 million. WesBanco had a return on equity of 6.50% and a net margin of 17.52%. During the same period in the previous year, the company posted $0.71 EPS. On average, equities analysts expect that WesBanco, Inc. will post 2.21 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Friday, June 7th. WesBanco’s dividend payout ratio (DPR) is presently 60.00%.

Hedge Funds Weigh In On WesBanco

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DiNuzzo Private Wealth Inc. acquired a new position in WesBanco during the 4th quarter worth approximately $31,000. Principal Securities Inc. acquired a new position in WesBanco during the 4th quarter worth approximately $43,000. TFO Wealth Partners LLC lifted its position in WesBanco by 26,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 3,144 shares in the last quarter. Comerica Bank lifted its position in WesBanco by 27.5% during the 1st quarter. Comerica Bank now owns 5,382 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 1,162 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of WesBanco by 34.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,292 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 1,617 shares in the last quarter. 61.41% of the stock is 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.