WesBanco (NASDAQ:WSBC) Given “Equal Weight” Rating at Stephens

WesBanco (NASDAQ:WSBC)‘s stock had its “equal weight” rating reissued by equities research analysts at Stephens in a report released on Wednesday, Benzinga reports. They currently have a $30.00 price objective on the financial services provider’s stock. Stephens’ price objective suggests a potential upside of 6.61% from the company’s current price.

A number of other research firms also recently weighed in on WSBC. Raymond James upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Friday, January 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price target on shares of WesBanco in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, WesBanco presently has an average rating of “Hold” and an average price target of $30.60.

WesBanco Stock Performance

NASDAQ:WSBC traded down $0.86 during trading hours on Wednesday, reaching $28.14. The company had a trading volume of 62,109 shares, compared to its average volume of 199,885. The firm’s 50 day moving average price is $28.64 and its 200-day moving average price is $28.23. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 11.21 and a beta of 0.86. WesBanco has a 52 week low of $19.84 and a 52 week high of $32.20. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. The company had revenue of $225.96 million for the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a net margin of 19.11% and a return on equity of 6.94%. During the same period in the previous year, the firm posted $0.71 EPS. On average, analysts forecast that WesBanco will post 2.27 EPS for the current year.

Institutional Investors Weigh In On WesBanco

A number of institutional investors and hedge funds have recently made changes to their positions in WSBC. SG Americas Securities LLC purchased a new stake in WesBanco during the 3rd quarter worth approximately $223,000. Denali Advisors LLC acquired a new position in shares of WesBanco in the 3rd quarter valued at $357,000. Bill Few Associates Inc. boosted its holdings in shares of WesBanco by 12.0% in the 3rd quarter. Bill Few Associates Inc. now owns 12,806 shares of the financial services provider’s stock valued at $313,000 after buying an additional 1,375 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in WesBanco by 38.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,080 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 3,361 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in WesBanco by 27.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,519 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 2,516 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

About WesBanco

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.