WesBanco, Inc. (WSBC) Lowered to Sell at Zacks Investment Research
WesBanco, Inc. (NASDAQ:WSBC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are engaged in general banking business. “
WSBC has been the topic of a number of other reports. BidaskClub downgraded shares of WesBanco from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $41.00 price target on shares of WesBanco in a research report on Tuesday, October 3rd. FBR & Co set a $40.00 price target on shares of WesBanco and gave the stock a “hold” rating in a research report on Friday. Sandler O’Neill downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Friday. Finally, DA Davidson set a $47.00 price target on shares of WesBanco and gave the stock a “buy” rating in a research report on Friday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. WesBanco presently has a consensus rating of “Hold” and a consensus price target of $42.00.
Shares of WesBanco (WSBC) traded up 1.00% during midday trading on Tuesday, reaching $40.50. 10,400 shares of the company traded hands. The firm has a market capitalization of $1.78 billion, a P/E ratio of 18.50 and a beta of 0.96. WesBanco has a 12 month low of $32.06 and a 12 month high of $44.19. The company has a 50 day moving average of $39.97 and a 200 day moving average of $38.93.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.03). WesBanco had a return on equity of 7.71% and a net margin of 24.73%. The business had revenue of $95.15 million during the quarter, compared to the consensus estimate of $98.37 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. On average, equities research analysts predict that WesBanco will post $2.40 earnings per share for the current fiscal year.
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In related news, EVP Brent E. Richmond sold 1,440 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $36.83, for a total value of $53,035.20. Following the sale, the executive vice president now owns 22,701 shares of the company’s stock, valued at approximately $836,077.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.05% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Eaton Vance Management acquired a new position in WesBanco during the 2nd quarter valued at about $9,783,000. Alpha Windward LLC increased its stake in WesBanco by 2.6% during the 2nd quarter. Alpha Windward LLC now owns 11,940 shares of the financial services provider’s stock valued at $472,000 after buying an additional 300 shares during the period. Clearbridge Investments LLC acquired a new position in WesBanco during the 1st quarter valued at about $2,952,000. HPM Partners LLC increased its stake in WesBanco by 1,540.0% during the 2nd quarter. HPM Partners LLC now owns 127,987 shares of the financial services provider’s stock valued at $7,092,000 after buying an additional 120,183 shares during the period. Finally, AQR Capital Management LLC increased its stake in WesBanco by 25.2% during the 1st quarter. AQR Capital Management LLC now owns 44,644 shares of the financial services provider’s stock valued at $1,701,000 after buying an additional 8,995 shares during the period. 57.74% of the stock is currently owned by institutional investors and hedge funds.
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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