WesBanco, Inc. (NASDAQ:WSBC) Downgraded by BidaskClub to “Strong Sell”
WesBanco, Inc. (NASDAQ:WSBC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday.
A number of other brokerages have also recently commented on WSBC. Zacks Investment Research cut shares of WesBanco from a “buy” rating to a “hold” rating in a report on Tuesday. FBR & Co reduced their target price on shares of WesBanco from $44.00 to $40.00 and set a “mkt perform” rating for the company in a report on Friday. Keefe, Bruyette & Woods set a $42.00 target price on shares of WesBanco and gave the company a “hold” rating in a report on Monday, April 10th. Sandler O’Neill raised shares of WesBanco from a “hold” rating to a “buy” rating in a report on Wednesday, March 29th. Finally, DA Davidson raised shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $41.60.
WesBanco (NASDAQ WSBC) traded up 1.31% on Tuesday, reaching $38.72. The company’s stock had a trading volume of 39,635 shares. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 17.69 and a beta of 0.94. WesBanco has a 12 month low of $30.46 and a 12 month high of $44.19. The firm has a 50 day moving average of $39.33 and a 200 day moving average of $39.55.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by $0.01. WesBanco had a net margin of 23.44% and a return on equity of 7.59%. The company had revenue of $94.26 million during the quarter, compared to analysts’ expectations of $96.70 million. During the same period last year, the firm earned $0.58 earnings per share. Analysts anticipate that WesBanco will post $2.46 earnings per share for the current year.
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In other news, EVP Gregory A. Dugan sold 8,000 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $40.72, for a total value of $325,760.00. Following the completion of the sale, the executive vice president now directly owns 13,051 shares of the company’s stock, valued at $531,436.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.05% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Peregrine Capital Management LLC raised its position in shares of WesBanco by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 199,811 shares of the financial services provider’s stock worth $7,901,000 after buying an additional 3,998 shares during the period. Alpha Windward LLC raised its position in shares of WesBanco by 2.6% in the second quarter. Alpha Windward LLC now owns 11,940 shares of the financial services provider’s stock worth $472,000 after buying an additional 300 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of WesBanco during the first quarter worth about $556,000. Clearbridge Investments LLC purchased a new position in shares of WesBanco during the first quarter worth about $2,952,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of WesBanco during the first quarter worth about $1,414,000. Institutional investors and hedge funds own 56.88% 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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