WesBanco (NASDAQ:WSBC) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of WesBanco (NASDAQ:WSBC) from a sell rating to a hold rating in a report published on Saturday, Zacks.com reports.

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

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods raised shares of WesBanco from a market perform rating to an outperform rating and set a $42.00 target price on the stock in a research note on Thursday, July 25th. Sandler O’Neill raised shares of WesBanco from a hold rating to a buy rating in a research note on Thursday, July 25th. ValuEngine downgraded shares of WesBanco from a hold rating to a sell rating in a research note on Tuesday, April 23rd. Boenning Scattergood reissued a neutral rating on shares of WesBanco in a research note on Thursday, June 20th. Finally, Hovde Group started coverage on shares of WesBanco in a research note on Monday, June 17th. They issued an outperform rating and a $42.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $42.50.

WesBanco stock traded down $0.42 during mid-day trading on Friday, reaching $35.13. 97,879 shares of the company’s stock traded hands, compared to its average volume of 199,596. The stock has a market capitalization of $1.94 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 1.11 and a beta of 1.12. The firm’s 50 day moving average price is $37.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87. WesBanco has a 12-month low of $34.14 and a 12-month high of $51.12.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.82. The company had revenue of $129.62 million for the quarter, compared to the consensus estimate of $127.44 million. WesBanco had a net margin of 27.85% and a return on equity of 8.79%. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, sell-side analysts forecast that WesBanco will post 3.19 earnings per share for the current year.

In other news, EVP Brent E. Richmond sold 5,323 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $36.53, for a total value of $194,449.19. Following the sale, the executive vice president now owns 17,428 shares of the company’s stock, valued at $636,644.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.24% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of WSBC. Norges Bank bought a new position in shares of WesBanco in the fourth quarter worth about $27,101,000. Wesbanco Bank Inc. grew its holdings in shares of WesBanco by 11.2% in the first quarter. Wesbanco Bank Inc. now owns 1,817,347 shares of the financial services provider’s stock worth $72,239,000 after purchasing an additional 182,766 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of WesBanco by 12.3% in the fourth quarter. Geode Capital Management LLC now owns 656,303 shares of the financial services provider’s stock worth $24,079,000 after purchasing an additional 71,920 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in shares of WesBanco in the first quarter worth about $1,988,000. Finally, Dupont Capital Management Corp bought a new position in shares of WesBanco in the second quarter worth about $1,573,000. Hedge funds and other institutional investors own 57.32% 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.

Read More: What are the advantages of the Stochastic Momentum Index?

Get a free copy of the Zacks research report on WesBanco (WSBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for WesBanco (NASDAQ:WSBC)

Receive News & Ratings for WesBanco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WesBanco and related companies with MarketBeat.com's FREE daily email newsletter.