WesBanco (NASDAQ:WSBC) Stock Gets Downgrade from Wall Street Zen

WesBanco (NASDAQ:WSBC) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the company. Raymond James Financial downgraded WesBanco from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of WesBanco in a research report on Monday, August 3rd. Zacks Research upgraded WesBanco from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Royal Bank Of Canada reissued a “sector perform” rating and set a $44.00 target price on shares of WesBanco in a research note on Monday, September 14th. Finally, Piper Sandler dropped their target price on shares of WesBanco from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, WesBanco currently has an average rating of “Hold” and an average target price of $43.60.

WesBanco Price Performance

NASDAQ WSBC opened at $37.22 on Friday. The business has a fifty day moving average price of $39.53 and a two-hundred day moving average price of $37.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.93. WesBanco has a fifty-two week low of $29.57 and a fifty-two week high of $43.02. The stock has a market capitalization of $3.57 billion, a PE ratio of 10.82 and a beta of 0.69.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. WesBanco had a return on equity of 9.72% and a net margin of 23.35%. The firm had revenue of $275.79 million for the quarter, compared to the consensus estimate of $267.71 million. Equities analysts expect that WesBanco will post 3.57 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Jan Pattishall-Krupinski sold 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $41.45, for a total value of $93,262.50. Following the completion of the transaction, the executive vice president owned 33,674 shares of the company’s stock, valued at $1,395,787.30. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kimberly Griffith sold 6,875 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $41.20, for a total value of $283,250.00. Following the completion of the transaction, the executive vice president directly owned 15,858 shares of the company’s stock, valued at $653,349.60. This represents a 30.24% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 35,195 shares of company stock valued at $1,465,800. 2.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WesBanco

Several institutional investors and hedge funds have recently added to or reduced their stakes in WSBC. BlackRock Inc. acquired a new position in shares of WesBanco in the 2nd quarter worth approximately $363,992,000. Dimensional Fund Advisors LP boosted its stake in shares of WesBanco by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,451,344 shares of the financial services provider’s stock valued at $188,013,000 after purchasing an additional 59,077 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of WesBanco in the 2nd quarter valued at $84,562,000. Bank of New York Mellon Corp bought a new stake in shares of WesBanco in the 2nd quarter valued at $36,433,000. Finally, Segall Bryant & Hamill LLC increased its position in shares of WesBanco by 0.7% during the first quarter. Segall Bryant & Hamill LLC now owns 928,768 shares of the financial services provider’s stock worth $32,033,000 after buying an additional 6,784 shares during the period. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Company Profile

WesBanco, Inc is a financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to consumers, businesses, and organizations.

WesBanco’s offerings include checking and savings accounts, consumer and residential real estate loans, commercial lending, credit cards, online and mobile banking, and other deposit and treasury management services. The company also provides trust, investment management, brokerage, and insurance services through affiliated businesses and financial professionals.

Founded in 1870, WesBanco has developed a regional banking presence serving communities in West Virginia, Ohio, Pennsylvania, Kentucky, and Indiana.