Zacks Investment Research downgraded shares of WesBanco (NASDAQ:WSBC) from a buy rating to a hold rating in a report released on Wednesday.
According to Zacks, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are engaged in general banking business. “
Other equities analysts also recently issued research reports about the company. DA Davidson set a $48.00 price objective on WesBanco and gave the stock a buy rating in a report on Thursday, December 21st. BidaskClub cut WesBanco from a sell rating to a strong sell rating in a research report on Friday, January 26th. Boenning Scattergood reaffirmed a hold rating on shares of WesBanco in a research report on Friday, October 20th. FBR & Co set a $40.00 target price on WesBanco and gave the stock a hold rating in a research report on Friday, October 20th. Finally, B. Riley set a $40.00 target price on WesBanco and gave the stock a hold rating in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $43.00.
WesBanco (NASDAQ WSBC) opened at $42.60 on Wednesday. WesBanco has a twelve month low of $34.81 and a twelve month high of $43.25. The company has a market capitalization of $1,855.10, a P/E ratio of 17.12, a P/E/G ratio of 1.44 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.85.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. WesBanco had a return on equity of 7.83% and a net margin of 22.43%. The firm had revenue of $96.12 million for the quarter, compared to the consensus estimate of $98.48 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. analysts expect that WesBanco will post 2.92 EPS for the current fiscal year.
In other news, Director F Eric Nelson, Jr. sold 12,500 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $42.06, for a total value of $525,750.00. Following the completion of the sale, the director now directly owns 29,717 shares of the company’s stock, valued at $1,249,897.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Denise H. Knouse-Snyder acquired 1,575 shares of WesBanco stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $41.44 per share, with a total value of $65,268.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $82,880. The disclosure for this purchase can be found here. 4.05% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of WSBC. TIAA CREF Investment Management LLC boosted its position in shares of WesBanco by 3.4% in the second quarter. TIAA CREF Investment Management LLC now owns 122,316 shares of the financial services provider’s stock valued at $4,836,000 after acquiring an additional 4,068 shares during the period. Ameriprise Financial Inc. boosted its position in shares of WesBanco by 132.9% in the second quarter. Ameriprise Financial Inc. now owns 129,902 shares of the financial services provider’s stock valued at $5,137,000 after acquiring an additional 74,115 shares during the period. BlackRock Inc. boosted its position in shares of WesBanco by 1.8% in the second quarter. BlackRock Inc. now owns 2,700,401 shares of the financial services provider’s stock valued at $106,773,000 after acquiring an additional 46,799 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of WesBanco by 15.9% in the second quarter. UBS Asset Management Americas Inc. now owns 29,485 shares of the financial services provider’s stock valued at $1,166,000 after acquiring an additional 4,045 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of WesBanco by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,502,925 shares of the financial services provider’s stock valued at $138,505,000 after acquiring an additional 41,522 shares during the period. 58.83% of the stock is owned by institutional investors.
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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.
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