DA Davidson Upgrades WesBanco (NASDAQ:WSBC) to “Strong-Buy”

WesBanco (NASDAQ:WSBC) was upgraded by stock analysts at DA Davidson to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of WesBanco in a research note on Monday, December 29th. Piper Sandler began coverage on WesBanco in a report on Wednesday, December 17th. They set an “overweight” rating and a $42.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, WesBanco presently has a consensus rating of “Buy” and a consensus target price of $40.00.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $36.38 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. The firm has a market cap of $3.49 billion, a P/E ratio of 17.57 and a beta of 0.80. The business’s 50 day moving average is $35.22 and its 200-day moving average is $33.10. WesBanco has a 1-year low of $26.42 and a 1-year high of $38.10.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.84. WesBanco had a return on equity of 8.88% and a net margin of 15.51%.The company had revenue of $265.78 million during the quarter, compared to the consensus estimate of $265.53 million. During the same quarter last year, the firm earned $0.71 earnings per share. Equities research analysts predict that WesBanco will post 3.24 earnings per share for the current year.

Insider Buying and Selling at WesBanco

In related news, Director F Eric Nelson, Jr. sold 752 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $33.37, for a total transaction of $25,094.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WesBanco

A number of large investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV raised its holdings in shares of WesBanco by 3.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,341 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 390 shares during the period. EP Wealth Advisors LLC bought a new stake in WesBanco in the 4th quarter valued at about $439,000. Empowered Funds LLC increased its position in WesBanco by 8.1% in the 4th quarter. Empowered Funds LLC now owns 358,639 shares of the financial services provider’s stock valued at $11,921,000 after buying an additional 26,763 shares in the last quarter. VARCOV Co. acquired a new position in WesBanco during the 4th quarter worth approximately $1,085,000. Finally, Wellington Management Group LLP boosted its holdings in WesBanco by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 2,764,222 shares of the financial services provider’s stock worth $91,883,000 after acquiring an additional 332,585 shares in the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small? to mid?sized businesses, nonprofit organizations and governmental entities with a relationship?driven approach and an emphasis on local decision?making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.