WesBanco (NASDAQ:WSBC) Stock Rating Upgraded by Raymond James

WesBanco (NASDAQ:WSBC) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report issued on Friday, MarketBeat reports. The brokerage currently has a $44.00 target price on the financial services provider’s stock, up from their previous target price of $35.00. Raymond James’ price target points to a potential upside of 21.15% from the company’s previous close.

WSBC has been the topic of several other research reports. Stephens raised their price objective on WesBanco from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Royal Bank of Canada reissued a “sector perform” rating and issued a $35.00 price target on shares of WesBanco in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.83.

WesBanco Price Performance

NASDAQ:WSBC opened at $36.32 on Friday. WesBanco has a 12-month low of $25.56 and a 12-month high of $37.36. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 17.38 and a beta of 0.84. The company’s 50-day moving average is $32.81 and its two-hundred day moving average is $30.68. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. WesBanco had a net margin of 14.79% and a return on equity of 5.75%. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Research analysts expect that WesBanco will post 2.14 EPS for the current year.

Insider Buying and Selling at WesBanco

In other news, EVP Michael L. Perkins sold 1,125 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $34.87, for a total value of $39,228.75. Following the transaction, the executive vice president now directly owns 46,817 shares in the company, valued at $1,632,508.79. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.44% of the stock is owned by company insiders.

Institutional Trading of WesBanco

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP grew its stake in WesBanco by 215.3% during the second quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock worth $37,000 after buying an additional 913 shares during the period. Signaturefd LLC lifted its holdings in shares of WesBanco by 214.5% during the 2nd quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 944 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in WesBanco during the 3rd quarter worth $56,000. Innealta Capital LLC acquired a new stake in WesBanco in the 2nd quarter valued at $53,000. Finally, CWM LLC raised its position in WesBanco by 175.2% in the third quarter. CWM LLC now owns 2,072 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,319 shares during the period. Institutional investors and hedge funds own 61.41% of the company’s stock.

About WesBanco

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