WesBanco (NASDAQ:WSBC) Upgraded by StockNews.com to “Hold” Rating

WesBanco (NASDAQ:WSBC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Several other brokerages also recently weighed in on WSBC. Raymond James raised shares of WesBanco from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $35.00 to $44.00 in a research report on Friday, December 6th. Stephens reissued an “equal weight” rating and issued a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. Finally, DA Davidson upped their price target on WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.17.

WesBanco Trading Down 0.1 %

WesBanco stock opened at $35.19 on Tuesday. WesBanco has a 12 month low of $25.56 and a 12 month high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $33.61 and its two-hundred day simple moving average is $32.35. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 15.71 and a beta of 0.84.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. As a group, equities analysts predict that WesBanco will post 3.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael L. Perkins sold 1,125 shares of WesBanco stock in a transaction on Friday, November 8th. The shares were sold at an average price of $34.87, for a total transaction of $39,228.75. Following the transaction, the executive vice president now owns 46,817 shares in the company, valued at $1,632,508.79. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.44% of the stock is currently owned by insiders.

Institutional Trading of WesBanco

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in shares of WesBanco by 8.2% during the 2nd quarter. AQR Capital Management LLC now owns 75,616 shares of the financial services provider’s stock valued at $2,110,000 after acquiring an additional 5,747 shares during the period. Millennium Management LLC lifted its holdings in WesBanco by 466.7% during the second quarter. Millennium Management LLC now owns 152,858 shares of the financial services provider’s stock valued at $4,266,000 after purchasing an additional 125,883 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of WesBanco by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 31,003 shares of the financial services provider’s stock worth $865,000 after purchasing an additional 1,410 shares during the period. Creative Planning increased its stake in shares of WesBanco by 18.4% in the second quarter. Creative Planning now owns 31,797 shares of the financial services provider’s stock worth $887,000 after purchasing an additional 4,945 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of WesBanco by 259.2% during the 3rd quarter. SG Americas Securities LLC now owns 22,448 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 16,198 shares during the period. Institutional investors own 61.41% of the company’s stock.

WesBanco Company Profile

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.