WesBanco (NASDAQ:WSBC) Shares Gap Up – Here’s What Happened

WesBanco, Inc. (NASDAQ:WSBC) shares gapped up prior to trading on Monday . The stock had previously closed at $31.55, but opened at $32.94. WesBanco shares last traded at $32.14, with a volume of 34,936 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com raised WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Keefe, Bruyette & Woods raised WesBanco from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $40.00 to $44.00 in a research report on Monday, February 10th. DA Davidson increased their price objective on WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and issued a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. Finally, Raymond James upgraded shares of WesBanco from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.83.

WesBanco Stock Down 0.3 %

The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 14.40 and a beta of 0.84. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm’s 50 day simple moving average is $33.90 and its 200-day simple moving average is $32.98.

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

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Monday, March 10th. WesBanco’s dividend payout ratio (DPR) is 66.07%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in WesBanco in the third quarter valued at $56,000. Sterling Capital Management LLC lifted its stake in shares of WesBanco by 807.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 1,614 shares during the period. Principal Securities Inc. lifted its stake in shares of WesBanco by 40.9% in the fourth quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 603 shares during the period. Roble Belko & Company Inc purchased a new stake in WesBanco during the fourth quarter worth about $78,000. Finally, Allworth Financial LP grew its position in WesBanco by 668.5% during the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider’s stock worth $78,000 after buying an additional 2,146 shares during the period. Institutional investors and hedge funds 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.