WesBanco (NASDAQ:WSBC) Shares Gap Down to $29.00

WesBanco, Inc. (NASDAQ:WSBC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $29.00, but opened at $28.14. WesBanco shares last traded at $28.31, with a volume of 15,021 shares trading hands.

Wall Street Analysts Forecast Growth

WSBC has been the subject of several research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a research report on Tuesday, April 9th. Raymond James upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Friday, January 5th. Finally, Stephens restated an “equal weight” rating and issued a $30.00 price objective on shares of WesBanco in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.60.

WesBanco Trading Down 3.3 %

The business’s 50 day simple moving average is $28.64 and its 200-day simple moving average is $28.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $1.67 billion, a P/E ratio of 11.27 and a beta of 0.86.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. WesBanco had a return on equity of 6.94% and a net margin of 19.11%. The business had revenue of $225.96 million during the quarter, compared to analysts’ expectations of $147.81 million. During the same period in the previous year, the firm earned $0.71 earnings per share. As a group, analysts forecast that WesBanco, Inc. will post 2.27 EPS for the current year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.36 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.13%. WesBanco’s dividend payout ratio (DPR) is presently 57.37%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WSBC. FMR LLC increased its stake in WesBanco by 3,621.1% in the third quarter. FMR LLC now owns 510,682 shares of the financial services provider’s stock valued at $12,471,000 after purchasing an additional 496,958 shares in the last quarter. Norges Bank bought a new stake in shares of WesBanco in the 4th quarter valued at $8,620,000. Earnest Partners LLC raised its stake in WesBanco by 10.5% during the 3rd quarter. Earnest Partners LLC now owns 1,484,752 shares of the financial services provider’s stock worth $36,258,000 after buying an additional 140,870 shares during the period. Envestnet Asset Management Inc. lifted its holdings in WesBanco by 100.0% during the third quarter. Envestnet Asset Management Inc. now owns 235,297 shares of the financial services provider’s stock worth $5,746,000 after acquiring an additional 117,635 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of WesBanco by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,966 shares of the financial services provider’s stock worth $18,632,000 after purchasing an additional 106,300 shares during the period. 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.