WesBanco (NASDAQ:WSBC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday, BidAskClub reports.
A number of other equities analysts have also issued reports on the stock. B. Riley set a $40.00 target price on shares of WesBanco and gave the stock a “hold” rating in a research report on Friday, September 13th. Zacks Investment Research reaffirmed a “hold” rating on shares of WesBanco in a report on Saturday, October 26th. Finally, ValuEngine upgraded WesBanco from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. WesBanco presently has an average rating of “Hold” and an average price target of $41.25.
Shares of WesBanco stock traded down $0.08 on Friday, reaching $37.87. The stock had a trading volume of 122,199 shares, compared to its average volume of 175,749. The business’s 50-day moving average price is $37.16 and its two-hundred day moving average price is $36.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.89 and a current ratio of 0.89. WesBanco has a fifty-two week low of $33.19 and a fifty-two week high of $43.13. The stock has a market cap of $2.08 billion, a P/E ratio of 11.80 and a beta of 1.11.
In other WesBanco news, CEO Todd Clossin bought 7,500 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were acquired at an average cost of $36.46 per share, for a total transaction of $273,450.00. Following the transaction, the chief executive officer now owns 63,912 shares in the company, valued at $2,330,231.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Crawford sold 10,000 shares of WesBanco stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $37.51, for a total transaction of $375,100.00. Following the sale, the director now owns 1,650 shares in the company, valued at $61,891.50. The disclosure for this sale can be found here. Corporate insiders own 3.24% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in WSBC. BlackRock Inc. boosted its holdings in WesBanco by 1.7% during the second quarter. BlackRock Inc. now owns 3,924,029 shares of the financial services provider’s stock valued at $151,272,000 after purchasing an additional 63,742 shares in the last quarter. Northern Trust Corp lifted its position in shares of WesBanco by 8.8% during the 2nd quarter. Northern Trust Corp now owns 1,135,420 shares of the financial services provider’s stock worth $43,771,000 after buying an additional 91,916 shares during the period. Renaissance Technologies LLC lifted its position in shares of WesBanco by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 914,564 shares of the financial services provider’s stock worth $35,256,000 after buying an additional 57,887 shares during the period. Nuveen Asset Management LLC bought a new position in shares of WesBanco during the 2nd quarter worth approximately $16,659,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in WesBanco by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 374,364 shares of the financial services provider’s stock valued at $14,432,000 after buying an additional 8,305 shares in the last quarter. Hedge funds and other institutional investors own 61.69% 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.
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