Stephens Cuts WesBanco (NASDAQ:WSBC) Price Target to $27.00

WesBanco (NASDAQ:WSBC) had its price target cut by Stephens from $30.00 to $27.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective points to a potential downside of 1.89% from the company’s previous close.

Several other brokerages also recently commented on WSBC. Raymond James upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Friday, January 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 target price on shares of WesBanco in a report on Tuesday, April 9th. Finally, Hovde Group lowered their target price on shares of WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday. One 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 currently has a consensus rating of “Hold” and a consensus target price of $30.67.

WesBanco Stock Down 2.7 %

WSBC traded down $0.76 during trading on Thursday, hitting $27.52. 36,396 shares of the company’s stock were exchanged, compared to its average volume of 200,096. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $28.64 and its two-hundred day moving average is $28.23. WesBanco has a fifty-two week low of $19.84 and a fifty-two week high of $32.20. The stock has a market cap of $1.63 billion, a P/E ratio of 11.43 and a beta of 0.86.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data 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 firm had revenue of $225.96 million for 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 quarter in the prior year, the company posted $0.71 earnings per share. As a group, equities analysts expect that WesBanco will post 2.27 earnings per share for the current fiscal year.

Institutional Trading of WesBanco

A number of large investors have recently added to or reduced their stakes in WSBC. DiNuzzo Private Wealth Inc. bought a new position in WesBanco during the fourth quarter worth about $31,000. Principal Securities Inc. purchased a new stake in WesBanco in the fourth quarter valued at approximately $43,000. Sound Income Strategies LLC raised its stake in WesBanco by 2,688.7% in the fourth quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,425 shares in the last quarter. EMC Capital Management bought a new position in WesBanco in the 3rd quarter worth $51,000. Finally, TFO Wealth Partners LLC raised its holdings in WesBanco by 26,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 3,144 shares in the last quarter. 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.