WesBanco (NASDAQ:WSBC) Rating Increased to Hold at BidaskClub

WesBanco (NASDAQ:WSBC) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday, BidAskClub reports.

WSBC has been the topic of a number of other research reports. Piper Sandler boosted their price objective on WesBanco from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Raymond James restated a “buy” rating on shares of WesBanco in a research report on Friday, August 28th. Zacks Investment Research downgraded WesBanco from a “hold” rating to a “sell” rating in a research report on Thursday, July 30th. Finally, ValuEngine upgraded WesBanco from a “sell” rating to a “hold” rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. WesBanco has a consensus rating of “Hold” and an average target price of $30.00.

Shares of NASDAQ:WSBC opened at $22.68 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.95 and a quick ratio of 0.94. The business’s 50 day moving average price is $22.06 and its 200-day moving average price is $22.17. The firm has a market capitalization of $1.52 billion, a PE ratio of 13.34 and a beta of 1.03. WesBanco has a 1 year low of $17.46 and a 1 year high of $39.33.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.28). The company had revenue of $151.87 million for the quarter, compared to analyst estimates of $146.49 million. WesBanco had a return on equity of 4.73% and a net margin of 15.84%. As a group, analysts expect that WesBanco will post 1.68 earnings per share for the current year.

In related news, CFO Robert H. Young purchased 1,200 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $25.00 per share, for a total transaction of $30,000.00. Following the acquisition, the chief financial officer now directly owns 1,200 shares in the company, valued at $30,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Clossin purchased 4,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the acquisition, the chief executive officer now owns 4,000 shares in the company, valued at $100,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 7,080 shares of company stock worth $175,000. 3.05% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of WSBC. ProShare Advisors LLC purchased a new stake in WesBanco during the 2nd quarter worth about $6,836,000. Macquarie Group Ltd. increased its holdings in WesBanco by 6.3% during the 2nd quarter. Macquarie Group Ltd. now owns 3,381,106 shares of the financial services provider’s stock worth $68,670,000 after purchasing an additional 199,000 shares during the period. First Trust Advisors LP boosted its position in shares of WesBanco by 220.9% during the 2nd quarter. First Trust Advisors LP now owns 195,616 shares of the financial services provider’s stock worth $3,973,000 after acquiring an additional 134,654 shares in the last quarter. EJF Capital LLC acquired a new position in shares of WesBanco during the 2nd quarter worth about $2,669,000. Finally, BlackRock Inc. boosted its position in shares of WesBanco by 2.6% during the 1st quarter. BlackRock Inc. now owns 5,078,823 shares of the financial services provider’s stock worth $120,368,000 after acquiring an additional 126,449 shares in the last quarter. Institutional investors own 57.15% of the company’s stock.

About WesBanco

WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.

Further Reading: Buy-Side Analysts

Analyst Recommendations for WesBanco (NASDAQ:WSBC)

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