WesBanco (WSBC) Downgraded to “Hold” at BidaskClub
BidaskClub lowered shares of WesBanco (NASDAQ:WSBC) from a buy rating to a hold rating in a report released on Saturday morning.
WSBC has been the subject of several other reports. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $41.00 target price on shares of WesBanco in a report on Tuesday, October 3rd. Sandler O’Neill lowered WesBanco from a buy rating to a hold rating in a report on Friday, October 20th. Zacks Investment Research raised WesBanco from a sell rating to a hold rating in a report on Thursday, November 16th. B. Riley set a $40.00 target price on WesBanco and gave the company a hold rating in a report on Tuesday, November 14th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of WesBanco in a report on Tuesday, November 14th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $42.00.
Shares of WesBanco (WSBC) traded down $0.13 on Friday, reaching $40.57. The company’s stock had a trading volume of 89,985 shares, compared to its average volume of 111,235. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $1,786.42, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.68 and a beta of 1.00. WesBanco has a 1 year low of $34.81 and a 1 year high of $44.19.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The company had revenue of $95.15 million for the quarter, compared to the consensus estimate of $98.37 million. WesBanco had a return on equity of 7.66% and a net margin of 24.73%. During the same period in the prior year, the firm posted $0.60 earnings per share. analysts expect that WesBanco will post 2.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, December 7th. WesBanco’s dividend payout ratio is presently 44.44%.
Several hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its holdings in shares of WesBanco by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,419 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 32 shares in the last quarter. Blair William & Co. IL grew its holdings in WesBanco by 0.7% during the second quarter. Blair William & Co. IL now owns 11,033 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 73 shares during the period. AMG Funds LLC grew its holdings in WesBanco by 0.5% during the second quarter. AMG Funds LLC now owns 21,270 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 98 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in WesBanco by 0.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 29,070 shares of the financial services provider’s stock valued at $1,149,000 after purchasing an additional 155 shares during the period. Finally, Ameritas Investment Partners Inc. grew its holdings in WesBanco by 6.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 229 shares during the period. 59.11% of the stock is owned by 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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