WesBanco (NASDAQ:WSBC) Receives “Buy” Rating from DA Davidson

WesBanco (NASDAQ:WSBC)‘s stock had its “buy” rating reiterated by DA Davidson in a report released on Wednesday,Benzinga reports. They presently have a $41.00 target price on the financial services provider’s stock. DA Davidson’s price target points to a potential upside of 23.90% from the company’s current price.

Other analysts have also recently issued reports about the company. Weiss Ratings raised WesBanco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Raymond James Financial reissued a “strong-buy” rating and set a $41.00 price objective on shares of WesBanco in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, WesBanco currently has an average rating of “Buy” and a consensus target price of $40.00.

WesBanco Price Performance

Shares of WesBanco stock traded down $2.64 during trading on Wednesday, reaching $33.09. The company’s stock had a trading volume of 859,116 shares, compared to its average volume of 546,180. The stock has a market capitalization of $3.18 billion, a P/E ratio of 15.97 and a beta of 0.74. WesBanco has a one year low of $28.74 and a one year high of $38.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $35.00 and a two-hundred day moving average price of $33.85.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $257.23 million during the quarter, compared to analysts’ expectations of $264.52 million. WesBanco had a return on equity of 8.81% and a net margin of 15.51%.The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. As a group, sell-side analysts anticipate that WesBanco will post 3.73 EPS for the current fiscal year.

Institutional Trading of WesBanco

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pictet Asset Management Holding SA increased its stake in shares of WesBanco by 10.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 15,919 shares of the financial services provider’s stock valued at $549,000 after acquiring an additional 1,500 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of WesBanco in the 4th quarter valued at about $1,492,000. Rockefeller Capital Management L.P. increased its stake in shares of WesBanco by 36.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,572 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 692 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of WesBanco by 0.7% in the 4th quarter. Corient Private Wealth LLC now owns 50,414 shares of the financial services provider’s stock valued at $1,677,000 after acquiring an additional 357 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of WesBanco by 3.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,341 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 390 shares during the last quarter. 61.41% of the stock is owned by institutional investors.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.