FBR & Co Cuts WesBanco, Inc. (NASDAQ:WSBC) Price Target to $40.00
WesBanco, Inc. (NASDAQ:WSBC) had its price objective reduced by stock analysts at FBR & Co from $44.00 to $40.00 in a note issued to investors on Friday. The firm presently has a “mkt perform” rating on the financial services provider’s stock. FBR & Co’s price target points to a potential upside of 5.62% from the stock’s current price.
Several other research firms have also recently weighed in on WSBC. Zacks Investment Research cut shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods set a $42.00 target price on shares of WesBanco and gave the company a “hold” rating in a research note on Monday, April 10th. Sandler O’Neill raised shares of WesBanco from a “hold” rating to a “buy” rating in a research note on Wednesday, March 29th. BidaskClub cut shares of WesBanco from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, DA Davidson raised shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $41.60.
Shares of WesBanco (NASDAQ WSBC) traded down 3.52% on Friday, reaching $37.87. 188,596 shares of the company traded hands. The stock has a 50-day moving average price of $39.34 and a 200 day moving average price of $39.64. WesBanco has a 1-year low of $30.46 and a 1-year high of $44.19. The firm has a market capitalization of $1.66 billion, a P/E ratio of 17.55 and a beta of 0.94.
WesBanco (NASDAQ:WSBC) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The company had revenue of $94.26 million for the quarter, compared to analysts’ expectations of $96.70 million. WesBanco had a net margin of 23.44% and a return on equity of 7.59%. During the same period in the previous year, the business posted $0.58 earnings per share. Analysts anticipate that WesBanco will post $2.48 EPS for the current fiscal year.
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In other WesBanco news, EVP Gregory A. Dugan sold 8,000 shares of WesBanco stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $40.72, for a total value of $325,760.00. Following the completion of the transaction, the executive vice president now directly owns 13,051 shares of the company’s stock, valued at approximately $531,436.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brent E. Richmond sold 5,000 shares of WesBanco stock in a transaction on Monday, April 24th. The stock was sold at an average price of $40.86, for a total transaction of $204,300.00. Following the completion of the transaction, the executive vice president now directly owns 23,302 shares of the company’s stock, valued at $952,119.72. The disclosure for this sale can be found here. Company insiders own 4.05% of the company’s stock.
Several institutional investors have recently modified their holdings of WSBC. Vanguard Group Inc. boosted its position in shares of WesBanco by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,461,403 shares of the financial services provider’s stock worth $131,915,000 after buying an additional 152,785 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of WesBanco by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,322,353 shares of the financial services provider’s stock worth $126,615,000 after buying an additional 132,877 shares during the last quarter. BlackRock Inc. boosted its position in shares of WesBanco by 25,298.2% in the first quarter. BlackRock Inc. now owns 2,653,602 shares of the financial services provider’s stock worth $101,129,000 after buying an additional 2,643,154 shares during the last quarter. Wesbanco Bank Inc. boosted its position in shares of WesBanco by 0.6% in the first quarter. Wesbanco Bank Inc. now owns 1,655,365 shares of the financial services provider’s stock worth $63,086,000 after buying an additional 9,668 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of WesBanco by 2.2% in the first quarter. Macquarie Group Ltd. now owns 1,373,968 shares of the financial services provider’s stock worth $52,362,000 after buying an additional 30,212 shares during the last quarter. 56.95% of the stock is owned by institutional investors and hedge funds.
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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