WesBanco (WSBC) Rating Lowered to Hold at Zacks Investment Research

WesBanco (NASDAQ:WSBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are engaged in general banking business. “

A number of other equities analysts have also weighed in on the stock. 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, October 20th. They noted that the move was a valuation call. 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, October 20th. BidaskClub lowered shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. Boenning Scattergood restated a “hold” rating on shares of WesBanco in a research report on Friday, October 20th. Finally, B. Riley set a $40.00 price target on shares of WesBanco and gave the stock a “hold” rating in a research report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.00.

WesBanco (WSBC) traded down $0.24 during mid-day trading on Wednesday, hitting $41.30. 89,500 shares of the stock were exchanged, compared to its average volume of 117,896. The stock has a market capitalization of $1,829.56, a PE ratio of 19.21, a P/E/G ratio of 1.42 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.85. WesBanco has a twelve month low of $34.81 and a twelve month high of $43.25.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. The firm had revenue of $96.12 million for the quarter, compared to analyst estimates of $98.48 million. WesBanco had a net margin of 22.43% and a return on equity of 7.83%. During the same period in the previous year, the business posted $0.59 earnings per share. equities research analysts expect that WesBanco will post 2.92 earnings per share for the current year.

In other news, Director Denise H. Knouse-Snyder bought 1,575 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $41.44 per share, for a total transaction of $65,268.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $82,880. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director F Eric Nelson, Jr. sold 12,500 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $42.06, for a total transaction of $525,750.00. Following the completion of the transaction, the director now owns 29,717 shares in the company, valued at $1,249,897.02. The disclosure for this sale can be found here. Insiders own 4.05% of the company’s stock.

Large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its holdings in WesBanco by 6.6% in 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 during the last quarter. Stifel Financial Corp acquired a new position in WesBanco in the 3rd quarter valued at about $220,000. Susquehanna International Group LLP acquired a new position in WesBanco in the 2nd quarter valued at about $236,000. Raymond James Financial Services Advisors Inc. boosted its holdings in WesBanco by 4.7% in 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 last quarter. Finally, Cornerstone Financial Partners LLC acquired a new position in WesBanco in the 4th quarter valued at about $379,000. Institutional investors own 58.83% of the company’s stock.

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About WesBanco

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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