WesBanco (WSBC) Rating Increased to Sell at BidaskClub

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WesBanco (NASDAQ:WSBC) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Tuesday.

Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Boenning Scattergood restated a “hold” rating on shares of WesBanco in a research report on Friday. Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Thursday, July 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $48.00 price objective on shares of WesBanco in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.25.

NASDAQ:WSBC traded up $0.54 during mid-day trading on Tuesday, reaching $40.35. The stock had a trading volume of 96,900 shares, compared to its average volume of 132,717. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.93. The company has a market cap of $1.83 billion, a P/E ratio of 16.47, a PEG ratio of 1.27 and a beta of 0.90. WesBanco has a twelve month low of $37.29 and a twelve month high of $51.12.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.14). The firm had revenue of $116.16 million during the quarter, compared to analyst estimates of $109.07 million. WesBanco had a net margin of 24.22% and a return on equity of 9.80%. During the same quarter in the previous year, the business earned $0.60 EPS. Analysts expect that WesBanco will post 3.09 EPS for the current year.

In other news, EVP Anthony F. Pietranton sold 6,000 shares of WesBanco stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $50.90, for a total transaction of $305,400.00. Following the completion of the sale, the executive vice president now directly owns 12,957 shares in the company, valued at approximately $659,511.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert H. Young sold 2,000 shares of WesBanco stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $50.71, for a total transaction of $101,420.00. Following the sale, the chief financial officer now owns 18,533 shares of the company’s stock, valued at $939,808.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,256 shares of company stock valued at $1,247,709. 4.14% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of WSBC. BlackRock Inc. lifted its position in shares of WesBanco by 10.2% during the 2nd quarter. BlackRock Inc. now owns 3,057,652 shares of the financial services provider’s stock valued at $137,715,000 after acquiring an additional 283,756 shares during the period. Regent Investment Management LLC acquired a new stake in shares of WesBanco during the 3rd quarter valued at approximately $7,577,000. PNC Financial Services Group Inc. lifted its position in shares of WesBanco by 965.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 143,860 shares of the financial services provider’s stock valued at $6,480,000 after acquiring an additional 130,360 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of WesBanco by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,770,614 shares of the financial services provider’s stock valued at $169,830,000 after acquiring an additional 109,132 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in shares of WesBanco by 25.6% during the 1st quarter. Allianz Asset Management GmbH now owns 280,181 shares of the financial services provider’s stock valued at $11,852,000 after acquiring an additional 57,171 shares during the period. Institutional investors own 59.72% of the company’s stock.

WesBanco Company Profile

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: Ex-Dividend

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