WesBanco (WSBC) Upgraded to Buy by Zacks Investment Research
WesBanco (NASDAQ:WSBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage currently has a $45.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.21% from the stock’s previous close.
According to Zacks, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are engaged in general banking business. “
Several other equities analysts have also recently issued reports on WSBC. Boenning Scattergood restated a “hold” rating on shares of WesBanco in a research note on Tuesday, January 2nd. DA Davidson set a $48.00 target price on WesBanco and gave the company a “buy” rating in a research note on Thursday, December 21st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $41.00 target price on shares of WesBanco in a research note on Tuesday, October 3rd. Sandler O’Neill cut WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Finally, B. Riley set a $40.00 target price on WesBanco and gave the company a “hold” rating in a research note on Tuesday, November 14th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $42.80.
WesBanco (WSBC) opened at $40.83 on Friday. WesBanco has a one year low of $34.81 and a one year high of $43.77. The stock has a market capitalization of $1,797.88, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.89 and a current ratio of 0.89.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.03). WesBanco had a return on equity of 7.66% and a net margin of 24.73%. The firm had revenue of $95.15 million for the quarter, compared to the consensus estimate of $98.37 million. During the same quarter last year, the business earned $0.60 earnings per share. analysts predict that WesBanco will post 2.41 EPS for the current fiscal year.
In other WesBanco 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 sale, the director now directly owns 29,717 shares in the company, valued at $1,249,897.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.05% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. California Public Employees Retirement System increased its holdings in shares of WesBanco by 5.6% during the third quarter. California Public Employees Retirement System now owns 57,242 shares of the financial services provider’s stock valued at $2,348,000 after purchasing an additional 3,026 shares during the period. Janney Capital Management LLC acquired a new position in shares of WesBanco during the third quarter valued at $898,000. Earnest Partners LLC increased its holdings in shares of WesBanco by 8.8% during the third quarter. Earnest Partners LLC now owns 1,641,852 shares of the financial services provider’s stock valued at $67,349,000 after purchasing an additional 132,434 shares during the period. Segall Bryant & Hamill LLC increased its holdings in shares of WesBanco by 13.1% during the third quarter. Segall Bryant & Hamill LLC now owns 338,394 shares of the financial services provider’s stock valued at $13,881,000 after purchasing an additional 39,153 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of WesBanco during the third quarter valued at $220,000. 59.11% of the stock is currently 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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