Sandler O’Neill Upgrades WesBanco (NASDAQ:WSBC) to “Buy”
Sandler O’Neill upgraded shares of WesBanco (NASDAQ:WSBC) from a hold rating to a buy rating in a report released on Thursday, BenzingaRatingsTable reports.
Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods raised WesBanco from a market perform rating to an outperform rating and set a $42.00 target price for the company in a research note on Thursday. ValuEngine raised Xylem from a hold rating to a buy rating in a research note on Tuesday, April 23rd. Zacks Investment Research raised Booz Allen Hamilton from a hold rating to a buy rating and set a $71.00 target price for the company in a research note on Friday, June 28th. Boenning Scattergood reaffirmed an outperform rating and issued a $47.75 target price on shares of WSFS Financial in a research note on Thursday, June 20th. Finally, BidaskClub raised Zynerba Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Saturday, May 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $42.50.
Shares of WSBC opened at $36.79 on Thursday. WesBanco has a 52-week low of $34.14 and a 52-week high of $51.12. The firm has a market cap of $2.01 billion, a P/E ratio of 11.46, a PEG ratio of 1.13 and a beta of 1.13. The business has a fifty day moving average of $37.03. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, June 6th. WesBanco’s payout ratio is 38.63%.
Several large investors have recently modified their holdings of WSBC. Norges Bank acquired a new stake in shares of WesBanco during the 4th quarter worth about $27,101,000. Wesbanco Bank Inc. increased its position in shares of WesBanco by 11.2% during the 1st quarter. Wesbanco Bank Inc. now owns 1,817,347 shares of the financial services provider’s stock worth $72,239,000 after purchasing an additional 182,766 shares during the last quarter. Geode Capital Management LLC increased its position in shares of WesBanco by 12.3% during the 4th quarter. Geode Capital Management LLC now owns 656,303 shares of the financial services provider’s stock worth $24,079,000 after purchasing an additional 71,920 shares during the last quarter. Kennedy Capital Management Inc. acquired a new stake in shares of WesBanco during the 1st quarter worth about $1,988,000. Finally, Macquarie Group Ltd. increased its position in shares of WesBanco by 2.1% during the 4th quarter. Macquarie Group Ltd. now owns 1,439,854 shares of the financial services provider’s stock worth $52,828,000 after purchasing an additional 29,300 shares during the last quarter. 57.31% of the stock is owned by hedge funds and other institutional investors.
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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