WesBanco (NASDAQ:WSBC) Earns Equal Weight Rating from Stephens

WesBanco (NASDAQ:WSBC)‘s stock had its “equal weight” rating reissued by Stephens in a report issued on Thursday,Benzinga reports. They presently have a $39.00 price target on the financial services provider’s stock. Stephens’ target price points to a potential upside of 14.17% from the stock’s previous close.

Separately, Raymond James raised shares of WesBanco from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $35.00 to $44.00 in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, WesBanco presently has an average rating of “Moderate Buy” and an average price target of $38.67.

WesBanco Stock Performance

Shares of WSBC opened at $34.16 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. WesBanco has a 1 year low of $25.56 and a 1 year high of $37.36. The firm has a fifty day moving average of $33.72 and a 200-day moving average of $32.09. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 15.25 and a beta of 0.85.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. As a group, equities analysts anticipate that WesBanco will post 3.09 earnings per share for the current year.

Insiders Place Their Bets

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of WesBanco stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the transaction, the executive vice president now owns 46,817 shares in the company, valued at approximately $1,632,508.79. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On WesBanco

Several large investors have recently modified their holdings of WSBC. Wellington Management Group LLP acquired a new stake in shares of WesBanco during the third quarter worth $116,114,000. State Street Corp lifted its position in WesBanco by 1.8% in the 3rd quarter. State Street Corp now owns 1,934,453 shares of the financial services provider’s stock worth $58,313,000 after buying an additional 35,030 shares in the last quarter. Geode Capital Management LLC boosted its position in WesBanco by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,419,070 shares of the financial services provider’s stock valued at $42,268,000 after purchasing an additional 32,879 shares during the last quarter. FMR LLC grew its position in WesBanco by 25.8% in the third quarter. FMR LLC now owns 695,487 shares of the financial services provider’s stock worth $20,712,000 after acquiring an additional 142,597 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in WesBanco by 2.5% during the third quarter. New York State Common Retirement Fund now owns 500,890 shares of the financial services provider’s stock worth $14,917,000 after buying an additional 11,987 shares during the last quarter. 61.41% of the stock is owned by institutional investors.

WesBanco Company Profile

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.