BidaskClub Downgrades WesBanco (WSBC) to Hold
WesBanco (NASDAQ:WSBC) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
WSBC has been the topic of several other research reports. B. Riley set a $40.00 price target on WesBanco and gave the company a “hold” rating in a report on Tuesday, November 14th. Sandler O’Neill cut WesBanco from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Zacks Investment Research cut WesBanco from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $41.00 price objective on shares of WesBanco in a report on Tuesday, October 3rd. Finally, DA Davidson set a $47.00 price objective on WesBanco and gave the company a “buy” rating in a report on Friday, October 20th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $42.00.
Shares of WesBanco (NASDAQ WSBC) opened at $40.57 on Friday. WesBanco has a 1-year low of $34.81 and a 1-year high of $44.19. The firm has a market capitalization of $1,790.00, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.85.
Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. grew its position in shares of WesBanco by 6.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock worth $146,000 after buying an additional 229 shares during the last quarter. Sei Investments Co. grew its position in shares of WesBanco by 4,236.6% in the 2nd quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock worth $174,000 after buying an additional 4,279 shares during the last quarter. Amalgamated Bank bought a new stake in shares of WesBanco in the 2nd quarter worth approximately $211,000. Victory Capital Management Inc. grew its position in shares of WesBanco by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock worth $212,000 after buying an additional 801 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of WesBanco in the 3rd quarter worth approximately $220,000. Hedge funds and other institutional investors own 59.11% 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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