WesBanco (NASDAQ:WSBC) Upgraded to Hold at StockNews.com

WesBanco (NASDAQ:WSBC – Get Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Separately, Piper Sandler boosted their price target on WesBanco from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 31st. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.20.

Get Our Latest Analysis on WesBanco

WesBanco Price Performance

NASDAQ WSBC opened at $24.43 on Wednesday. WesBanco has a one year low of $19.84 and a one year high of $41.37. The stock has a 50-day moving average of $26.47 and a 200 day moving average of $27.43. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 7.96 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.90 and a current ratio of 0.90.

WesBanco (NASDAQ:WSBC – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $153.41 million during the quarter, compared to the consensus estimate of $151.14 million. WesBanco had a return on equity of 8.49% and a net margin of 26.04%. WesBanco’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company earned $0.67 EPS. On average, sell-side analysts forecast that WesBanco will post 2.61 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WSBC. Lindbrook Capital LLC lifted its holdings in WesBanco by 384.3% in the 2nd quarter. Lindbrook Capital LLC now owns 1,046 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 830 shares in the last quarter. Independence Bank of Kentucky purchased a new position in WesBanco in the 1st quarter worth approximately $29,000. Quarry LP purchased a new stake in shares of WesBanco during the 1st quarter worth approximately $35,000. Ancora Advisors LLC bought a new position in shares of WesBanco during the 1st quarter valued at approximately $43,000. Finally, Resurgent Financial Advisors LLC bought a new position in shares of WesBanco during the 4th quarter valued at approximately $50,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

About WesBanco

(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.

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