WesBanco (NASDAQ:WSBC) Receives “Sector Perform” Rating from Royal Bank of Canada

WesBanco (NASDAQ:WSBC)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $32.00 price target on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 9.48% from the stock’s previous close.

Separately, Raymond James raised shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.75.

WesBanco Stock Performance

Shares of WesBanco stock traded up $0.17 during mid-day trading on Tuesday, hitting $29.23. 20,873 shares of the stock were exchanged, compared to its average volume of 204,797. WesBanco has a 12 month low of $19.84 and a 12 month high of $32.20. The company has a 50-day simple moving average of $28.82 and a 200 day simple moving average of $27.94. 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 $1.74 billion, a P/E ratio of 11.65 and a beta of 0.86.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $221.47 million for the quarter, compared to the consensus estimate of $146.70 million. WesBanco had a return on equity of 6.94% and a net margin of 19.11%. During the same period in the prior year, the business earned $0.84 EPS. Sell-side analysts anticipate that WesBanco will post 2.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Moody National Bank Trust Division grew its stake in WesBanco by 17.5% in the 1st quarter. Moody National Bank Trust Division now owns 17,165 shares of the financial services provider’s stock valued at $512,000 after buying an additional 2,552 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of WesBanco by 34.6% during 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. Price T Rowe Associates Inc. MD increased its stake in WesBanco by 4.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 63,906 shares of the financial services provider’s stock valued at $2,005,000 after acquiring an additional 2,666 shares during the last quarter. Barclays PLC raised its holdings in shares of WesBanco by 51.6% during the 4th quarter. Barclays PLC now owns 145,121 shares of the financial services provider’s stock valued at $4,551,000 after buying an additional 49,420 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in WesBanco by 18.5% in the fourth quarter. Nuveen Asset Management LLC now owns 682,746 shares of the financial services provider’s stock worth $21,419,000 after purchasing an additional 106,474 shares during the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

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.