WesBanco (WSBC) Downgraded by BidaskClub to “Sell”
BidaskClub cut shares of WesBanco (NASDAQ:WSBC) from a hold rating to a sell rating in a research note issued to investors on Thursday.
A number of other analysts have also issued reports on the company. Zacks Investment Research raised WesBanco from a hold rating to a buy rating and set a $46.00 target price on the stock in a research report on Wednesday, December 27th. Boenning Scattergood reissued a hold rating on shares of WesBanco in a research report on Tuesday, January 2nd. B. Riley set a $40.00 target price on WesBanco and gave the company a hold rating in a research report on Tuesday, November 14th. Finally, DA Davidson set a $48.00 target price on WesBanco and gave the company a buy rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $43.00.
Shares of WesBanco (NASDAQ:WSBC) opened at $42.18 on Thursday. The stock has a market capitalization of $1,858.17, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.89. WesBanco has a 12-month low of $34.81 and a 12-month high of $43.25.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.75%. This is a positive change from WesBanco’s previous quarterly dividend of $0.26. WesBanco’s dividend payout ratio is currently 48.37%.
In related news, Director Denise H. Knouse-Snyder acquired 1,575 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $41.44 per share, with a total value of $65,268.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $82,880. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director F Eric Nelson, Jr. sold 12,500 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $42.06, for a total value of $525,750.00. Following the sale, the director now directly owns 29,717 shares in the company, valued at approximately $1,249,897.02. The disclosure for this sale can be found here. 4.05% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its position in shares of WesBanco by 6.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 229 shares during the period. Stifel Financial Corp purchased a new stake in shares of WesBanco during the third quarter worth $220,000. Raymond James Financial Services Advisors Inc. increased its position in shares of WesBanco by 4.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,052 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 269 shares during the period. Xact Kapitalforvaltning AB acquired a new position in shares of WesBanco during the fourth quarter worth $248,000. Finally, Millennium Management LLC acquired a new position in shares of WesBanco during the fourth quarter worth $346,000. 59.80% of the stock is currently owned by institutional investors and hedge funds.
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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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