WesBanco (NASDAQ:WSBC) Shares Gap Down to $34.28

WesBanco, Inc. (NASDAQ:WSBC)’s share price gapped down prior to trading on Friday . The stock had previously closed at $34.28, but opened at $31.29. WesBanco shares last traded at $32.50, with a volume of 118,961 shares traded.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Hovde Group dropped their price target on shares of WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price target on shares of WesBanco in a report on Tuesday, April 9th. Finally, Stephens dropped their price objective on WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.60.

WesBanco Price Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $1.90 billion, a PE ratio of 13.32 and a beta of 0.84. The stock’s 50-day moving average is $28.28 and its two-hundred day moving average is $28.61.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates 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 6.50%. During the same period last year, the firm posted $0.71 EPS. On average, equities analysts predict that WesBanco, Inc. will post 2.21 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, June 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.50%. WesBanco’s dividend payout ratio (DPR) is presently 60.00%.

Institutional Trading of WesBanco

Institutional investors and hedge funds have recently modified their holdings of the business. Bailard Inc. purchased a new stake in shares of WesBanco during the second quarter worth about $687,000. Bank of New York Mellon Corp raised its holdings in WesBanco by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 490,335 shares of the financial services provider’s stock valued at $13,685,000 after buying an additional 21,297 shares during the period. Raymond James Trust N.A. boosted its position in WesBanco by 3.9% during the 2nd quarter. Raymond James Trust N.A. now owns 17,380 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 647 shares during the period. AMG National Trust Bank lifted its position in WesBanco by 31.7% during the 2nd quarter. AMG National Trust Bank now owns 14,535 shares of the financial services provider’s stock worth $406,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in WesBanco by 64.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 12,193 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 4,760 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

WesBanco Company Profile

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.