WesBanco, Inc. (WSBC) Receives Average Recommendation of “Hold” from Brokerages
WesBanco, Inc. (NASDAQ:WSBC) has been given an average rating of “Hold” by the nine analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $41.25.
A number of research firms have weighed in on WSBC. Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Wednesday, June 28th. BidaskClub lowered shares of WesBanco from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. DA Davidson upgraded shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Friday, June 2nd. ValuEngine upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Finally, FBR & Co dropped their price target on shares of WesBanco from $44.00 to $40.00 and set a “mkt perform” rating for the company in a research report on Friday, July 21st.
WesBanco (WSBC) traded down 0.47% on Friday, reaching $36.27. 9,056 shares of the company traded hands. The stock’s 50-day moving average is $38.88 and its 200-day moving average is $39.21. WesBanco has a 1-year low of $30.46 and a 1-year high of $44.19. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 16.57 and a beta of 0.94.
WesBanco (NASDAQ:WSBC) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.01. The business had revenue of $94.26 million for the quarter, compared to the consensus estimate of $96.70 million. WesBanco had a net margin of 23.44% and a return on equity of 7.55%. During the same quarter last year, the firm posted $0.58 earnings per share. Equities research analysts expect that WesBanco will post $2.45 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new position in WesBanco during the first quarter worth $132,000. Smithfield Trust Co. bought a new position in WesBanco during the second quarter valued at approximately $138,000. Sei Investments Co. increased its position in WesBanco by 4,236.6% in the second 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 period. Amalgamated Bank bought a new position in WesBanco during the second quarter valued at approximately $211,000. Finally, Victory Capital Management Inc. increased its position in WesBanco by 17.6% in the second 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 period. Institutional investors and hedge funds own 56.63% of the company’s stock.
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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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