WesBanco (NASDAQ:WSBC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of WesBanco (NASDAQ:WSBC) from a buy rating to a hold rating in a report released on Saturday, January 13th. Zacks Investment Research currently has $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. “

A number of other brokerages also recently weighed in on WSBC. BidaskClub downgraded WesBanco from a buy rating to a hold rating in a report on Saturday, December 9th. Boenning Scattergood reiterated a hold rating on shares of WesBanco in a report on Friday, October 20th. DA Davidson set a $48.00 target price on WesBanco and gave the stock a buy rating in a report on Thursday, December 21st. FBR & Co set a $40.00 target price on WesBanco and gave the stock a hold rating in a report on Friday, October 20th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $41.00 price objective on shares of WesBanco in a report on Tuesday, October 3rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $43.00.

WesBanco (NASDAQ:WSBC) traded up $0.82 during trading on Friday, hitting $42.53. The company had a trading volume of 102,501 shares, compared to its average volume of 81,805. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $1,836.63, a price-to-earnings ratio of 18.18, a P/E/G ratio of 1.40 and a beta of 1.00. WesBanco has a one year low of $34.81 and a one year high of $43.77.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.03). The company had revenue of $95.15 million during the quarter, compared to analyst estimates 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 earned $0.60 earnings per share. analysts predict that WesBanco will post 2.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were given a $0.26 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.04 annualized dividend and a yield of 2.45%. WesBanco’s dividend payout ratio is currently 44.44%.

In other WesBanco news, Director F Eric Nelson, Jr. sold 12,500 shares of the business’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 transaction, the director now owns 29,717 shares of the company’s stock, valued at $1,249,897.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.05% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its position 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 worth $146,000 after purchasing an additional 229 shares during the last quarter. Amalgamated Bank purchased a new position in WesBanco in the second quarter worth $211,000. Victory Capital Management Inc. lifted its position in shares of WesBanco by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after buying an additional 801 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of WesBanco during the 3rd quarter valued at $220,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of WesBanco by 22.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,695 shares of the financial services provider’s stock valued at $225,000 after buying an additional 1,045 shares during the last quarter. 59.11% of the stock is currently owned by institutional investors and hedge funds.

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About WesBanco

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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