WesBanco (NASDAQ:WSBC) Stock Rating Lowered by StockNews.com

WesBanco (NASDAQ:WSBC – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other brokerages also recently issued reports on WSBC. Hovde Group raised shares of WesBanco from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 13th. Piper Sandler lifted their price objective on WesBanco from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.20.

Read Our Latest Stock Analysis on WesBanco

WesBanco Trading Down 0.9 %

Shares of WSBC stock opened at $23.95 on Thursday. WesBanco has a 12-month low of $19.84 and a 12-month high of $41.37. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $26.33 and its 200 day moving average is $27.00. The stock has a market capitalization of $1.42 billion, a P/E ratio of 7.80 and a beta of 0.92.

WesBanco (NASDAQ:WSBC – Get Free Report) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $153.41 million for the quarter, compared to analysts’ expectations of $151.14 million. WesBanco had a net margin of 26.04% and a return on equity of 8.49%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. Research analysts expect that WesBanco will post 2.61 earnings per share for the current year.

Institutional Trading of WesBanco

Several hedge funds have recently modified their holdings of WSBC. Price T Rowe Associates Inc. MD increased its holdings in shares of WesBanco by 0.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,763 shares of the financial services provider’s stock valued at $2,099,000 after acquiring an additional 313 shares during the period. UBS Group AG boosted its holdings in WesBanco by 2.4% during the second quarter. UBS Group AG now owns 13,774 shares of the financial services provider’s stock worth $437,000 after buying an additional 322 shares in the last quarter. Captrust Financial Advisors increased its holdings in WesBanco by 9.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,780 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 338 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in WesBanco by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 22,791 shares of the financial services provider’s stock valued at $843,000 after buying an additional 389 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in WesBanco by 8.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,768 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 389 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

WesBanco Company Profile

(Get Free Report)

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services.

Recommended Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider WesBanco, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and WesBanco wasn’t on the list.

While WesBanco currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.

Get This Free Report