WesBanco, Inc. (WSBC) Rating Reiterated by Keefe, Bruyette & Woods
WesBanco, Inc. (NASDAQ:WSBC)‘s stock had its “hold” rating reissued by equities research analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday. They currently have a $41.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 1.51% from the company’s current price.
Other equities analysts have also issued research reports about the stock. BidaskClub upgraded shares of WesBanco from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. FBR & Co reiterated a “mkt perform” rating and issued a $40.00 price objective (down from $44.00) on shares of WesBanco in a research report on Thursday, July 20th. Finally, Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $41.40.
Shares of WesBanco (WSBC) traded up 0.10% during midday trading on Tuesday, reaching $41.63. 125,821 shares of the company were exchanged. The company’s 50-day moving average price is $38.12 and its 200 day moving average price is $38.46. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 19.02 and a beta of 0.96. WesBanco has a 52-week low of $32.06 and a 52-week high of $44.19.
WesBanco (NASDAQ:WSBC) last issued 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 during the quarter, compared to analyst estimates of $96.70 million. WesBanco had a return on equity of 7.55% and a net margin of 23.44%. During the same period in the prior year, the business earned $0.58 earnings per share. On average, equities analysts predict that WesBanco will post $2.45 earnings per share for the current year.
In related news, EVP Brent E. Richmond sold 1,440 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $36.83, for a total transaction of $53,035.20. Following the transaction, the executive vice president now owns 22,701 shares in the company, valued at $836,077.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.05% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC lifted its position in WesBanco by 43.4% in the second quarter. Piedmont Investment Advisors LLC now owns 53,234 shares of the financial services provider’s stock worth $2,105,000 after purchasing an additional 16,119 shares during the period. Ameritas Investment Partners Inc. boosted its stake in WesBanco by 6.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 229 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of WesBanco during the 2nd quarter valued at $236,000. Raymond James Financial Services Advisors Inc. increased its position in shares of WesBanco by 4.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,052 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 269 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of WesBanco by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,856 shares of the financial services provider’s stock valued at $1,300,000 after purchasing an additional 1,477 shares during the period. Hedge funds and other institutional investors own 57.72% of the company’s stock.
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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