WesBanco (NASDAQ:WSBC) Reaches New 52-Week Low at $28.44

Posted by on Apr 23rd, 2023

WesBanco, Inc. (NASDAQ:WSBC – Get Rating)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $28.44 and last traded at $28.76, with a volume of 33148 shares traded. The stock had previously closed at $28.95.

Wall Street Analyst Weigh In

WSBC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of WesBanco from $40.00 to $35.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th. StockNews.com downgraded shares of WesBanco from a “hold” rating to a “sell” rating in a research report on Friday, March 24th. Piper Sandler reduced their target price on shares of WesBanco from $41.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, January 26th. Finally, Stephens assumed coverage on shares of WesBanco in a research note on Monday, April 3rd. They issued an “equal weight” rating and a $28.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $33.40.

WesBanco Price Performance

The stock has a 50 day moving average of $32.82 and a 200-day moving average of $36.21. The company has a market cap of $1.70 billion, a PE ratio of 9.45 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.83.

WesBanco (NASDAQ:WSBC – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. WesBanco had a return on equity of 8.36% and a net margin of 30.44%. The company had revenue of $176.69 million for the quarter, compared to analysts’ expectations of $159.97 million. During the same period in the previous year, the firm posted $0.82 EPS. Equities analysts predict that WesBanco, Inc. will post 3.16 earnings per share for the current year.

WesBanco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Investors of record on Friday, March 10th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Thursday, March 9th. WesBanco’s payout ratio is 46.05%.

Hedge Funds Weigh In On WesBanco

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in shares of WesBanco in the 1st quarter valued at $100,000. Moody National Bank Trust Division grew its position in shares of WesBanco by 27.9% during the first quarter. Moody National Bank Trust Division now owns 11,876 shares of the financial services provider’s stock worth $365,000 after buying an additional 2,587 shares in the last quarter. Bill Few Associates Inc. lifted its position in shares of WesBanco by 7.6% during the first quarter. Bill Few Associates Inc. now owns 11,331 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 800 shares during the last quarter. Independence Bank of Kentucky acquired a new stake in WesBanco in the first quarter worth about $29,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of WesBanco by 2,127.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,552 shares of the financial services provider’s stock valued at $279,000 after buying an additional 7,213 shares in the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.

WesBanco Company Profile

(Get Rating)

WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.

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