BidaskClub Upgrades WesBanco (NASDAQ:WSBC) to Hold

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WesBanco (NASDAQ:WSBC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday, BidAskClub reports.

A number of other analysts have also issued reports on the company. B. Riley set a $40.00 price target on WesBanco and gave the stock a “hold” rating in a research note on Friday, September 13th. Zacks Investment Research lowered WesBanco from a “hold” rating to a “sell” rating in a research note on Saturday, September 14th. Keefe, Bruyette & Woods raised WesBanco from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, July 25th. Boenning Scattergood reissued a “neutral” rating on shares of WesBanco in a research note on Thursday, June 20th. Finally, Hovde Group started coverage on WesBanco in a research note on Monday, June 17th. They set an “outperform” rating and a $42.00 price objective on the stock. Two equities research 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 stock has a consensus rating of “Hold” and a consensus price target of $41.25.

Shares of NASDAQ:WSBC opened at $37.67 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50 day moving average price is $35.06 and its 200-day moving average price is $37.75. The firm has a market capitalization of $2.07 billion, a PE ratio of 11.74, a P/E/G ratio of 1.19 and a beta of 1.13. WesBanco has a 1 year low of $33.19 and a 1 year high of $46.84.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.82. The firm had revenue of $129.62 million for the quarter, compared to analyst estimates of $127.44 million. WesBanco had a return on equity of 8.68% and a net margin of 27.85%. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, analysts expect that WesBanco will post 3.15 earnings per share for the current year.

In other WesBanco news, EVP Brent E. Richmond sold 5,323 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $36.53, for a total transaction of $194,449.19. Following the transaction, the executive vice president now owns 17,428 shares of the company’s stock, valued at $636,644.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen J. Callen acquired 7,000 shares of the stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $33.76 per share, for a total transaction of $236,320.00. The disclosure for this purchase can be found here. Insiders own 3.24% of the company’s stock.

A number of large investors have recently bought and sold shares of WSBC. Geode Capital Management LLC raised its position in WesBanco by 12.3% in the fourth quarter. Geode Capital Management LLC now owns 656,303 shares of the financial services provider’s stock valued at $24,079,000 after purchasing an additional 71,920 shares during the period. Bank of Montreal Can raised its stake in shares of WesBanco by 39.6% during the 1st quarter. Bank of Montreal Can now owns 7,504 shares of the financial services provider’s stock worth $298,000 after buying an additional 2,130 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of WesBanco during the 1st quarter worth approximately $399,000. Martingale Asset Management L P purchased a new position in WesBanco in the 1st quarter valued at approximately $303,000. Finally, Acadian Asset Management LLC purchased a new position in WesBanco in the 1st quarter valued at approximately $462,000. Institutional investors own 57.59% of the company’s stock.

WesBanco Company Profile

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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Analyst Recommendations for WesBanco (NASDAQ:WSBC)

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