WesBanco (WSBC) Given a $48.00 Price Target at DA Davidson

DA Davidson set a $48.00 price objective on WesBanco (NASDAQ:WSBC) in a research note released on Thursday morning. The brokerage currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for WesBanco’s Q2 2018 earnings at $0.64 EPS, Q1 2019 earnings at $0.72 EPS, Q2 2019 earnings at $0.72 EPS, Q3 2019 earnings at $0.71 EPS and FY2019 earnings at $2.85 EPS.

A number of other brokerages have also weighed in on WSBC. BidaskClub lowered shares of WesBanco from a buy rating to a hold rating in a research note on Saturday, December 9th. Zacks Investment Research raised shares of WesBanco from a sell rating to a hold rating in a research note on Thursday, November 16th. Boenning Scattergood reaffirmed a hold rating on shares of WesBanco in a research note on Friday, October 20th. FBR & Co set a $40.00 target price on shares of WesBanco and gave the company a hold rating in a research note on Friday, October 20th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $41.00 target price on shares of WesBanco in a research note on Tuesday, October 3rd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $42.25.

Shares of WesBanco (NASDAQ WSBC) traded down $0.59 during trading on Thursday, reaching $41.26. 78,524 shares of the company’s stock were exchanged, compared to its average volume of 110,867. The company has a market cap of $1,818.57, a price-to-earnings ratio of 17.28, a PEG ratio of 1.71 and a beta of 1.00. WesBanco has a 1-year low of $34.81 and a 1-year high of $44.19. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.89 and a current ratio of 0.89.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The company had revenue of $95.15 million for the quarter, compared to the consensus estimate of $98.37 million. WesBanco had a net margin of 24.73% and a return on equity of 7.66%. During the same period in the previous year, the firm posted $0.60 EPS. sell-side analysts expect that WesBanco will post 2.41 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.52%. WesBanco’s dividend payout ratio (DPR) is currently 44.44%.

In related news, Director F Eric Nelson, Jr. sold 12,500 shares of WesBanco stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $42.06, for a total transaction of $525,750.00. Following the completion of the transaction, the director now directly owns 29,717 shares of the company’s stock, valued at approximately $1,249,897.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.05% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its position in WesBanco by 6.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 229 shares during the period. Sei Investments Co. raised its holdings in WesBanco by 4,236.6% in the second quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock worth $174,000 after buying an additional 4,279 shares during the last quarter. Amalgamated Bank purchased a new position in WesBanco in the second quarter worth about $211,000. Victory Capital Management Inc. raised its holdings in WesBanco by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock worth $212,000 after buying an additional 801 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in WesBanco in the third quarter worth about $220,000. 59.11% of the stock is owned by institutional investors.

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WesBanco Company Profile

WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.

Analyst Recommendations for WesBanco (NASDAQ:WSBC)

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