BidaskClub Downgrades WesBanco (NASDAQ:WSBC) to Hold

WesBanco (NASDAQ:WSBC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday, BidAskClub reports.

WSBC has been the subject of several other reports. Zacks Investment Research reaffirmed a “hold” rating on shares of WesBanco in a report on Saturday, October 26th. Keefe, Bruyette & Woods raised shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Thursday, July 25th. B. Riley set a $40.00 target price on shares of WesBanco and gave the stock a “hold” rating in a report on Friday, September 13th. ValuEngine upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Sandler O’Neill upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. WesBanco has a consensus rating of “Hold” and a consensus price target of $41.25.

WesBanco stock traded down $0.11 during trading hours on Thursday, reaching $37.39. The stock had a trading volume of 115,400 shares, compared to its average volume of 206,781. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $2.05 billion, a PE ratio of 11.65 and a beta of 1.12. WesBanco has a 52 week low of $33.19 and a 52 week high of $43.88. The company has a fifty day simple moving average of $37.49 and a 200-day simple moving average of $36.94.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10). The firm had revenue of $117.35 million during the quarter, compared to analysts’ expectations of $126.48 million. WesBanco had a return on equity of 8.38% and a net margin of 28.22%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Research analysts predict that WesBanco will post 3.03 earnings per share for the current fiscal year.

In other news, Director Michael J. Crawford sold 10,000 shares of WesBanco stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $37.51, for a total value of $375,100.00. Following the completion of the sale, the director now directly owns 1,650 shares in the company, valued at $61,891.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan D. Dargusch sold 4,504 shares of WesBanco stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.10, for a total transaction of $171,602.40. Following the completion of the sale, the executive vice president now owns 20,219 shares of the company’s stock, valued at $770,343.90. The disclosure for this sale can be found here. Insiders own 3.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in WSBC. First Mercantile Trust Co. bought a new stake in WesBanco during the third quarter valued at approximately $43,000. DekaBank Deutsche Girozentrale bought a new stake in WesBanco during the second quarter valued at approximately $49,000. Denali Advisors LLC bought a new stake in WesBanco during the third quarter valued at approximately $101,000. SG Americas Securities LLC grew its position in WesBanco by 11.1% during the third quarter. SG Americas Securities LLC now owns 3,168 shares of the financial services provider’s stock valued at $118,000 after buying an additional 317 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in WesBanco by 17.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,676 shares of the financial services provider’s stock valued at $137,000 after buying an additional 548 shares during the period. Institutional investors own 57.40% of the company’s stock.

About WesBanco

WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.

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Analyst Recommendations for WesBanco (NASDAQ:WSBC)

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