WesBanco (NASDAQ:WSBC) Downgraded to Strong Sell at BidaskClub

WesBanco (NASDAQ:WSBC) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday, March 22nd, BidAskClub reports.

Separately, Zacks Investment Research raised WesBanco from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Sunday, January 6th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $44.67.

NASDAQ:WSBC traded down $0.67 during trading hours on Friday, reaching $41.24. 106,437 shares of the company traded hands, compared to its average volume of 110,214. WesBanco has a 1-year low of $34.14 and a 1-year high of $51.12. The stock has a market cap of $2.29 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.86 and a current ratio of 0.86.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Monday, January 28th. The financial services provider reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.01). The firm had revenue of $128.33 million during the quarter, compared to analysts’ expectations of $130.42 million. WesBanco had a return on equity of 9.20% and a net margin of 27.77%. During the same period last year, the business posted $0.66 earnings per share. As a group, equities research analysts predict that WesBanco will post 3.27 earnings per share for the current fiscal year.

In other news, Director Kerry M. Stemler purchased 1,343 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of $37.66 per share, for a total transaction of $50,577.38. Following the completion of the purchase, the director now owns 96,004 shares of the company’s stock, valued at $3,615,510.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Denise H. Knouse-Snyder purchased 675 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was purchased at an average price of $42.36 per share, with a total value of $28,593.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $84,720. The disclosure for this purchase can be found here. 3.24% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of WSBC. Public Employees Retirement System of Ohio boosted its stake in WesBanco by 52.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 727 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 250 shares during the period. Executive Wealth Management LLC acquired a new position in WesBanco in the fourth quarter valued at approximately $27,000. Advisory Services Network LLC boosted its stake in WesBanco by 55.8% in the fourth quarter. Advisory Services Network LLC now owns 765 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 274 shares during the period. MCF Advisors LLC boosted its stake in WesBanco by 496.9% in the fourth quarter. MCF Advisors LLC now owns 955 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 795 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in WesBanco in the fourth quarter valued at approximately $70,000. Institutional investors own 58.83% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.

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