WesBanco, Inc. (NASDAQ:WSBC) Stock Rating Reaffirmed by FBR & Co
WesBanco, Inc. (NASDAQ:WSBC)‘s stock had its “hold” rating reissued by equities researchers at FBR & Co in a research note issued to investors on Thursday.
WSBC has been the subject of a number of other research reports. ValuEngine upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research cut shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Sandler O’Neill upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a research note on Wednesday, March 29th. Stephens restated an “overweight” rating on shares of WesBanco in a research note on Tuesday, April 11th. Finally, DA Davidson upgraded shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $40.20.
WesBanco (NASDAQ:WSBC) traded down 2.89% on Thursday, reaching $38.96. 81,310 shares of the company were exchanged. The stock has a 50-day moving average price of $39.28 and a 200 day moving average price of $39.65. WesBanco has a 52 week low of $30.46 and a 52 week high of $44.19. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 18.05 and a beta of 0.94.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.01. The business had revenue of $94.26 million for the quarter, compared to analyst estimates of $96.70 million. WesBanco had a return on equity of 7.57% and a net margin of 23.39%. During the same quarter in the prior year, the company earned $0.58 EPS. Analysts forecast that WesBanco will post $2.49 earnings per share for the current year.
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In other news, EVP Brent E. Richmond sold 5,000 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $40.86, for a total value of $204,300.00. Following the completion of the transaction, the executive vice president now owns 23,302 shares in the company, valued at approximately $952,119.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory A. Dugan sold 8,000 shares of the stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $40.72, for a total transaction of $325,760.00. Following the completion of the transaction, the executive vice president now owns 13,051 shares of the company’s stock, valued at approximately $531,436.72. The disclosure for this sale can be found here. Company insiders own 4.05% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new position in WesBanco during the first quarter valued at $132,000. Eqis Capital Management Inc. acquired a new position in WesBanco during the first quarter valued at $219,000. Raymond James Financial Services Advisors Inc. increased its position in WesBanco by 7.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,783 shares of the financial services provider’s stock valued at $220,000 after buying an additional 419 shares during the period. Karp Capital Management Corp acquired a new position in WesBanco during the first quarter valued at $254,000. Finally, SG Americas Securities LLC acquired a new position in WesBanco during the first quarter valued at $267,000. Hedge funds and other institutional investors own 56.95% of the company’s stock.
WesBanco Company Profile
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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