WesBanco (WSBC) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of WesBanco (NASDAQ:WSBC) from a buy rating to a hold rating in a research note published on Saturday morning. They currently have $46.00 price objective on the financial services provider’s stock.

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

Several other equities research analysts have also recently issued reports on WSBC. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $41.00 price objective on shares of WesBanco in a research report on Tuesday, October 3rd. FBR & Co set a $40.00 price objective on shares of WesBanco and gave the stock a hold rating in a research report on Friday, October 20th. DA Davidson set a $47.00 price objective on shares of WesBanco and gave the stock a buy rating in a research report on Friday, October 20th. They noted that the move was a valuation call. Boenning Scattergood reaffirmed a hold rating on shares of WesBanco in a research report on Friday, October 20th. Finally, Sandler O’Neill cut shares of WesBanco from a buy rating to a hold rating in a research report on Friday, October 20th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $43.00.

WesBanco (NASDAQ:WSBC) traded up $0.20 during trading on Friday, hitting $42.60. 99,132 shares of the stock traded hands, compared to its average volume of 107,550. The stock has a market cap of $1,875.81, a PE ratio of 17.82, a P/E/G ratio of 1.48 and a beta of 1.00. WesBanco has a 1-year low of $34.81 and a 1-year high of $43.77. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.85.

WesBanco (NASDAQ:WSBC) last released 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). The firm had revenue of $95.15 million for the quarter, compared to analysts’ expectations of $98.37 million. WesBanco had a return on equity of 7.66% and a net margin of 24.73%. During the same period last year, the firm posted $0.60 earnings per share. sell-side analysts expect that WesBanco will post 2.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were given a $0.26 dividend. The ex-dividend date was Thursday, December 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.44%. WesBanco’s dividend payout ratio (DPR) is presently 44.44%.

In related news, Director F Eric Nelson, Jr. sold 12,500 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $42.06, for a total value of $525,750.00. Following the completion of the sale, the director now directly owns 29,717 shares of the company’s stock, valued at $1,249,897.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.05% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its stake in WesBanco by 6.6% in 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. Amalgamated Bank acquired a new position in WesBanco in the second quarter valued at $211,000. Victory Capital Management Inc. increased its stake 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 purchasing an additional 801 shares during the period. Stifel Financial Corp acquired a new position in WesBanco in the third quarter valued at $220,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in WesBanco by 22.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,695 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 1,045 shares during the period. Institutional investors own 59.11% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was reported by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://www.themarketsdaily.com/2018/01/14/wesbanco-wsbc-downgraded-to-hold-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on WesBanco (WSBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for WesBanco (NASDAQ:WSBC)

Receive News & Ratings for WesBanco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WesBanco and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply