WesBanco (NASDAQ:WSBC) Upgraded by BidaskClub to Sell

WesBanco (NASDAQ:WSBC) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, March 30th, BidAskClub reports.

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

Shares of WSBC traded down $0.67 during mid-day trading on Friday, hitting $41.24. 106,437 shares of the company’s stock were exchanged, compared to its average volume of 110,214. WesBanco has a 52 week low of $34.14 and a 52 week high of $51.12. The stock has a market capitalization of $2.29 billion, a PE ratio of 12.85, a P/E/G ratio of 1.26 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.63.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Monday, January 28th. The financial services provider reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.01). WesBanco had a return on equity of 9.20% and a net margin of 27.77%. The business had revenue of $128.33 million for the quarter, compared to the consensus estimate of $130.42 million. During the same period in the prior year, the business posted $0.66 earnings per share. 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 WesBanco stock in a transaction that occurred on Friday, March 22nd. The shares were acquired at an average price of $37.66 per share, for a total transaction of $50,577.38. Following the transaction, the director now owns 96,004 shares of the company’s stock, valued at approximately $3,615,510.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Denise H. Knouse-Snyder purchased 675 shares of WesBanco stock in a transaction that occurred on Thursday, February 21st. The shares were purchased at an average price of $42.36 per share, for a total transaction of $28,593.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $84,720. The disclosure for this purchase can be found here. Company insiders own 3.24% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its position in shares of WesBanco by 52.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 727 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 250 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of WesBanco by 55.8% during the 4th quarter. Advisory Services Network LLC now owns 765 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 274 shares in the last quarter. Bank of Montreal Can boosted its position in shares of WesBanco by 7.4% during the 4th quarter. Bank of Montreal Can now owns 5,374 shares of the financial services provider’s stock worth $197,000 after acquiring an additional 372 shares in the last quarter. LPL Financial LLC boosted its position in shares of WesBanco by 4.6% during the 4th quarter. LPL Financial LLC now owns 10,770 shares of the financial services provider’s stock worth $395,000 after acquiring an additional 475 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of WesBanco by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 14,773 shares of the financial services provider’s stock worth $542,000 after acquiring an additional 576 shares in the last quarter. Institutional investors and hedge funds own 58.83% of the company’s stock.

About WesBanco

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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