WesBanco (WSBC) Lowered to Hold at ValuEngine

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ValuEngine cut shares of WesBanco (NASDAQ:WSBC) from a buy rating to a hold rating in a research note released on Wednesday morning.

Several other equities research analysts have also recently weighed in on WSBC. BidaskClub cut shares of WesBanco from a buy rating to a hold rating in a research note on Wednesday, August 29th. Zacks Investment Research cut shares of WesBanco from a buy rating to a hold rating in a research note on Tuesday, May 29th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $48.00 target price on shares of WesBanco in a research note on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. WesBanco presently has an average rating of Hold and an average target price of $47.40.

WSBC stock opened at $46.81 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.88 and a quick ratio of 0.87. WesBanco has a 52-week low of $37.42 and a 52-week high of $51.12. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.51 and a beta of 0.89.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Monday, July 23rd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. WesBanco had a net margin of 24.38% and a return on equity of 8.85%. The company had revenue of $105.76 million during the quarter, compared to analysts’ expectations of $103.37 million. During the same period in the prior year, the company earned $0.60 earnings per share. equities analysts anticipate that WesBanco will post 3.09 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, September 6th. WesBanco’s dividend payout ratio (DPR) is presently 47.35%.

In related news, EVP Michael L. Perkins sold 3,250 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $50.22, for a total value of $163,215.00. Following the completion of the transaction, the executive vice president now owns 12,008 shares of the company’s stock, valued at $603,041.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charlotte A. Zuschlag sold 10,000 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $49.50, for a total transaction of $495,000.00. The disclosure for this sale can be found here. Insiders sold 21,250 shares of company stock valued at $1,065,035 in the last three months. Company insiders own 4.14% of the company’s stock.

A number of large investors have recently bought and sold shares of WSBC. Dimensional Fund Advisors LP increased its holdings in shares of WesBanco by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,770,614 shares of the financial services provider’s stock worth $169,830,000 after buying an additional 109,132 shares in the last quarter. BlackRock Inc. increased its holdings in shares of WesBanco by 10.2% during the second quarter. BlackRock Inc. now owns 3,057,652 shares of the financial services provider’s stock worth $137,715,000 after buying an additional 283,756 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of WesBanco by 1.8% during the first quarter. Earnest Partners LLC now owns 1,755,912 shares of the financial services provider’s stock worth $74,275,000 after buying an additional 31,177 shares in the last quarter. Wesbanco Bank Inc. increased its holdings in shares of WesBanco by 2.2% during the second quarter. Wesbanco Bank Inc. now owns 1,645,183 shares of the financial services provider’s stock worth $74,099,000 after buying an additional 34,787 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of WesBanco by 2.6% during the second quarter. FMR LLC now owns 1,258,300 shares of the financial services provider’s stock worth $56,674,000 after buying an additional 32,100 shares in the last quarter. 59.93% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for WesBanco (NASDAQ:WSBC)

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