Zacks Investment Research Downgrades WesBanco (WSBC) to Hold

Zacks Investment Research downgraded shares of WesBanco (NASDAQ:WSBC) from a buy rating to a hold rating in a report issued on Wednesday, February 14th.

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

WSBC has been the subject of a number of other reports. B. Riley set a $40.00 price target on WesBanco and gave the company a hold rating in a research report on Tuesday, November 14th. BidaskClub lowered WesBanco from a sell rating to a strong sell rating in a report on Friday, January 26th. Sandler O’Neill lowered WesBanco from a buy rating to a hold rating in a report on Friday, October 20th. 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. Finally, Boenning Scattergood reissued a hold rating on shares of WesBanco in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $43.00.

Shares of WesBanco (WSBC) traded down $0.72 on Wednesday, hitting $41.88. The company had a trading volume of 83,000 shares, compared to its average volume of 115,697. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $1,876.24, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.46 and a beta of 0.96. WesBanco has a one year low of $34.81 and a one year high of $43.25.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.04. The company had revenue of $96.12 million during the quarter, compared to the consensus estimate of $98.48 million. WesBanco had a return on equity of 7.83% and a net margin of 22.43%. During the same period last year, the business posted $0.59 earnings per share. sell-side analysts anticipate that WesBanco will post 2.92 EPS for the current year.

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

Several institutional investors have recently bought and sold shares of WSBC. TIAA CREF Investment Management LLC boosted its holdings in shares of WesBanco by 3.4% in the second quarter. TIAA CREF Investment Management LLC now owns 122,316 shares of the financial services provider’s stock worth $4,836,000 after acquiring an additional 4,068 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of WesBanco by 132.9% in the second quarter. Ameriprise Financial Inc. now owns 129,902 shares of the financial services provider’s stock worth $5,137,000 after acquiring an additional 74,115 shares during the period. BlackRock Inc. boosted its holdings in shares of WesBanco by 1.8% in the second quarter. BlackRock Inc. now owns 2,700,401 shares of the financial services provider’s stock worth $106,773,000 after acquiring an additional 46,799 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of WesBanco by 15.9% in the second quarter. UBS Asset Management Americas Inc. now owns 29,485 shares of the financial services provider’s stock worth $1,166,000 after acquiring an additional 4,045 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of WesBanco by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,502,925 shares of the financial services provider’s stock worth $138,505,000 after acquiring an additional 41,522 shares during the period. 59.13% of the stock is owned by hedge funds and other institutional investors.

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WesBanco Company Profile

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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