WesBanco (WSBC) Rating Lowered to Hold at Zacks Investment Research

WesBanco (NASDAQ:WSBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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

Other equities research analysts also recently issued research reports about the stock. DA Davidson set a $47.00 target price 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. BidaskClub cut shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Boenning Scattergood reiterated a “hold” rating on shares of WesBanco in a research note on Tuesday, November 14th. B. Riley set a $40.00 price target on shares of WesBanco and gave the stock a “hold” rating in a research note on Tuesday, November 14th. Finally, Sandler O’Neill cut shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $43.00.

WesBanco (NASDAQ:WSBC) traded down $0.24 during trading hours on Wednesday, reaching $41.30. 89,500 shares of the company’s stock were exchanged, compared to its average volume of 117,896. 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 has a fifty-two week low of $34.81 and a fifty-two week high of $43.25. The company has a market cap of $1,829.56, a P/E ratio of 19.21, a PEG ratio of 1.42 and a beta of 0.96.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. WesBanco had a net margin of 22.43% and a return on equity of 7.83%. The business had revenue of $96.12 million during the quarter, compared to the consensus estimate of $98.48 million. During the same quarter in the previous year, the firm posted $0.59 EPS. equities analysts predict that WesBanco will post 2.92 earnings per share for the current year.

In other news, Director F Eric Nelson, Jr. sold 12,500 shares of WesBanco stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $42.06, for a total transaction of $525,750.00. Following the transaction, the director now owns 29,717 shares in the company, valued at approximately $1,249,897.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Denise H. Knouse-Snyder purchased 1,575 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $41.44 per share, for a total transaction of $65,268.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at $82,880. The disclosure for this purchase can be found here. Company insiders own 4.05% of the company’s stock.

Institutional investors have recently modified their holdings of the company. River Road Asset Management LLC lifted its stake in shares of WesBanco by 41.4% during the 3rd quarter. River Road Asset Management LLC now owns 537,197 shares of the financial services provider’s stock valued at $22,036,000 after buying an additional 157,370 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of WesBanco by 11.1% during the 3rd quarter. Macquarie Group Ltd. now owns 1,525,400 shares of the financial services provider’s stock valued at $62,572,000 after buying an additional 152,280 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of WesBanco by 8.8% during the 3rd quarter. Earnest Partners LLC now owns 1,641,852 shares of the financial services provider’s stock valued at $67,349,000 after buying an additional 132,434 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of WesBanco by 132.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 129,902 shares of the financial services provider’s stock valued at $5,137,000 after buying an additional 74,115 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of WesBanco by 2.3% during the 4th quarter. BlackRock Inc. now owns 2,813,716 shares of the financial services provider’s stock valued at $114,377,000 after buying an additional 64,509 shares in the last quarter. Institutional investors and hedge funds own 58.83% 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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