WesBanco, Inc. (WSBC) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of WesBanco, Inc. (NASDAQ:WSBC) from a sell rating to a hold rating in a report released on Thursday.
According to Zacks, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are engaged in general banking business. “
A number of other brokerages have also commented on WSBC. BidaskClub lowered WesBanco from a sell rating to a strong sell rating in a report on Tuesday, July 25th. Boenning Scattergood reissued a hold rating on shares of WesBanco in a research report on Friday, October 20th. FBR & Co set a $40.00 price target on WesBanco and gave the stock a hold rating in a research report on Friday, October 20th. DA Davidson set a $47.00 price target on WesBanco and gave the stock a buy rating in a research report on Friday, October 20th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $41.00 price target on shares of WesBanco in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $41.60.
WesBanco (NASDAQ WSBC) traded up $0.01 during trading hours on Thursday, reaching $40.04. The company’s stock had a trading volume of 125,790 shares, compared to its average volume of 97,051. WesBanco has a 1 year low of $34.81 and a 1 year high of $44.19. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $1,760.00, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00.
WesBanco (NASDAQ:WSBC) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The business had revenue of $95.15 million during the quarter, compared to analyst estimates of $98.37 million. WesBanco had a net margin of 24.73% and a return on equity of 7.66%. During the same period in the previous year, the firm posted $0.60 earnings per share. equities analysts expect that WesBanco will post 2.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Thursday, December 7th. WesBanco’s dividend payout ratio is currently 44.64%.
In related news, EVP Brent E. Richmond sold 1,440 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $36.83, for a total transaction of $53,035.20. Following the sale, the executive vice president now owns 22,701 shares of the company’s stock, valued at $836,077.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WSBC. Parametric Portfolio Associates LLC lifted its stake in WesBanco by 32.0% during the first quarter. Parametric Portfolio Associates LLC now owns 36,064 shares of the financial services provider’s stock worth $1,374,000 after purchasing an additional 8,739 shares during the last quarter. FMR LLC lifted its stake in shares of WesBanco by 27.1% in the 1st quarter. FMR LLC now owns 377,900 shares of the financial services provider’s stock valued at $14,402,000 after acquiring an additional 80,600 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of WesBanco by 2.6% in the 1st quarter. Teachers Advisors LLC now owns 70,979 shares of the financial services provider’s stock valued at $2,705,000 after acquiring an additional 1,797 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of WesBanco by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,461,403 shares of the financial services provider’s stock valued at $131,915,000 after acquiring an additional 152,785 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of WesBanco by 4.4% in the 1st quarter. Geode Capital Management LLC now owns 345,421 shares of the financial services provider’s stock valued at $13,163,000 after acquiring an additional 14,647 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
WesBanco Company Profile
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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