WesBanco (NASDAQ:WSBC) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of WesBanco (NASDAQ:WSBC) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Several other research firms also recently commented on WSBC. Piper Sandler decreased their price target on shares of WesBanco from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. DA Davidson set a $46.00 price objective on shares of WesBanco in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $42.00 target price on shares of WesBanco in a report on Thursday, July 23rd. Zacks Research raised shares of WesBanco from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Raymond James Financial cut shares of WesBanco from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.60.

WesBanco Price Performance

WSBC opened at $37.05 on Friday. The stock has a 50-day moving average price of $39.44 and a 200-day moving average price of $37.80. WesBanco has a 12-month low of $29.57 and a 12-month high of $43.02. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.55 billion, a P/E ratio of 10.77 and a beta of 0.69.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.85 by $0.07. The firm had revenue of $275.79 million for the quarter, compared to analyst estimates of $267.71 million. WesBanco had a return on equity of 9.72% and a net margin of 23.35%. Equities analysts predict that WesBanco will post 3.57 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 4th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, September 4th. WesBanco’s dividend payout ratio (DPR) is presently 44.19%.

Insider Buying and Selling at WesBanco

In other WesBanco news, EVP Jan Pattishall-Krupinski sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $41.91, for a total value of $104,775.00. Following the completion of the sale, the executive vice president owned 33,484 shares in the company, valued at approximately $1,403,314.44. The trade was a 6.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert H. Friend sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $42.06, for a total value of $252,360.00. Following the sale, the executive vice president directly owned 17,361 shares of the company’s stock, valued at approximately $730,203.66. This trade represents a 25.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,195 shares of company stock worth $1,465,800 over the last quarter. Company insiders own 2.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WSBC. Nykredit A S purchased a new position in shares of WesBanco in the second quarter worth $40,000. Public Employees Retirement System of Ohio bought a new stake in WesBanco during the 2nd quarter valued at $57,000. GAMMA Investing LLC boosted its position in WesBanco by 39.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,546 shares of the financial services provider’s stock valued at $95,000 after buying an additional 714 shares during the period. Rockefeller Capital Management L.P. boosted its position in WesBanco by 36.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,572 shares of the financial services provider’s stock valued at $86,000 after buying an additional 692 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in WesBanco during the 1st quarter valued at $126,000. Institutional investors own 61.41% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc is a financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to consumers, businesses, and organizations.

WesBanco’s offerings include checking and savings accounts, consumer and residential real estate loans, commercial lending, credit cards, online and mobile banking, and other deposit and treasury management services. The company also provides trust, investment management, brokerage, and insurance services through affiliated businesses and financial professionals.

Founded in 1870, WesBanco has developed a regional banking presence serving communities in West Virginia, Ohio, Pennsylvania, Kentucky, and Indiana.