WesBanco, Inc. (WSBC) Lowered to Hold at Sandler O’Neill
A number of other equities research analysts have also recently weighed in on the company. BidaskClub cut WesBanco from a sell rating to a strong sell rating in a report on Thursday, June 22nd. FBR & Co dropped their price target on WesBanco from $44.00 to $40.00 and set a mkt perform rating for the company in a report on Friday, July 21st. Zacks Investment Research cut WesBanco from a buy rating to a hold rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $41.00 price target on shares of WesBanco in a report on Tuesday, October 3rd. Finally, DA Davidson set a $47.00 price target on WesBanco and gave the company a buy rating in a report on Friday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $42.00.
Shares of WesBanco (NASDAQ:WSBC) traded down 2.39% on Friday, reaching $40.41. The company’s stock had a trading volume of 145,390 shares. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 18.46 and a beta of 0.96. WesBanco has a 52 week low of $32.06 and a 52 week high of $44.19. The stock has a 50-day moving average of $39.92 and a 200 day moving average of $38.89.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.03). WesBanco had a net margin of 24.73% and a return on equity of 7.71%. The business had revenue of $95.15 million for the quarter, compared to analyst estimates of $98.37 million. During the same period in the prior year, the business earned $0.60 earnings per share. On average, analysts expect that WesBanco will post $2.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were given a $0.26 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.57%. WesBanco’s payout ratio is 44.44%.
In other WesBanco news, EVP Brent E. Richmond sold 1,440 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $36.83, for a total value of $53,035.20. Following the transaction, the executive vice president now directly owns 22,701 shares in the company, valued at approximately $836,077.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.05% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in WSBC. Ameritas Investment Partners Inc. bought a new position in WesBanco in the 1st quarter valued at $132,000. Smithfield Trust Co. bought a new position in WesBanco in the 2nd quarter valued at $138,000. Sei Investments Co. boosted its position in WesBanco by 4,236.6% in the 2nd quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock valued at $174,000 after buying an additional 4,279 shares during the last quarter. Amalgamated Bank bought a new position in WesBanco in the 2nd quarter valued at $211,000. Finally, Victory Capital Management Inc. boosted its position in WesBanco by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after buying an additional 801 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.
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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