Raymond James Cuts WesBanco (NASDAQ:WSBC) Price Target to $38.00

WesBanco (NASDAQ:WSBC) had its price objective decreased by Raymond James from $44.00 to $38.00 in a research report sent to investors on Wednesday,Benzinga reports. Raymond James currently has a strong-buy rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on the company. DA Davidson boosted their target price on WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised WesBanco from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $40.00 to $44.00 in a report on Monday, February 10th. StockNews.com raised shares of WesBanco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Stephens reissued an “equal weight” rating and issued a $39.00 price target on shares of WesBanco in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, WesBanco has an average rating of “Moderate Buy” and a consensus price target of $39.43.

WesBanco Trading Down 2.6 %

Shares of WesBanco stock opened at $27.80 on Wednesday. The company’s 50-day moving average price is $33.59 and its 200-day moving average price is $32.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco has a 12-month low of $25.56 and a 12-month high of $37.36. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 12.41 and a beta of 0.84.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. On average, equities analysts expect that WesBanco will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.32%. WesBanco’s payout ratio is 66.07%.

Hedge Funds Weigh In On WesBanco

A number of large investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its position in WesBanco by 807.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock valued at $59,000 after buying an additional 1,614 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of WesBanco in the 3rd quarter valued at about $56,000. Principal Securities Inc. boosted its holdings in WesBanco by 40.9% during the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 603 shares during the period. Roble Belko & Company Inc purchased a new position in WesBanco in the 4th quarter worth approximately $78,000. Finally, Allworth Financial LP increased its stake in WesBanco by 668.5% in the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,146 shares during the period. 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.