Zacks Investment Research upgrades WesBanco (NASDAQ: WSBC) to “Buy”
WesBanco (NASDAQ: WSBC) has been improved by Zacks investment research from a “keep” note to a “buy” note in a research note published on Tuesday, Zacks.com reports. The company currently has a target price of $ 39.00 on shares of the financial services provider. Zacks investment researchThe company’s price target would suggest a potential rise of 8.79% from the company’s current price.
According to Zacks, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are active in the general banking sector. “
Other stock analysts have also recently published research reports on the company. Boenning Scattergood reiterated a “neutral” rating on WesBanco shares in a report released Wednesday (September 29th). Royal Bank of Canada raised its price target on WesBanco from $ 36.00 to $ 38.00 and assigned the company a “sector performance” rating in a report released on Wednesday, September 29. Five analysts rated the stock with a conservation rating and one gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average “Hold” rating and a consensus target price of $ 37.25.
Actions of WSBC open for $ 35.85 Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81, and a debt ratio of 0.15. WesBanco has a one-year low at $ 28.65 and a one-year high at $ 39.87. The stock has a market cap of $ 2.27 billion, a P / E ratio of 10.39 and a beta of 1.03. The stock’s 50-day moving average price is $ 34.70 and its two-hundred-day moving average price is $ 34.30.
WesBanco (NASDAQ: WSBC) last released its results on Tuesday, October 26. The financial services provider reported earnings per share (EPS) of $ 0.70 for the quarter, missing Zacks’ consensus estimate of $ 0.77 of ($ 0.07). WesBanco had a return on equity of 9.23% and a net margin of 37.95%. The company posted revenue of $ 148.03 million for the quarter, compared to a consensus estimate of $ 146.23 million. In the same quarter of last year, the company posted EPS of $ 0.66. WesBanco’s quarterly revenue was down 4.6% year-on-year. As a group, equity analysts predict that WesBanco will post 3.45 EPS for the current year.
Meanwhile, director James W. Cornelsen sold 30,907 WesBanco shares in a trade that took place on Tuesday, November 23. The stock was sold for an average price of $ 35.56, for a total value of $ 1,099,052.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Additionally, F manager Eric Nelson, Jr. sold 1,196 shares of WesBanco in a trade that took place on Wednesday, December 22. The shares were sold for an average price of $ 33.46, for a total value of $ 40,018.16. Disclosure of this sale can be found here. 3.13% of the shares are currently held by insiders of the company.
Several large investors have recently bought and sold WSBC shares. Nisa Investment Advisors LLC acquired a new position in WesBanco shares during the second quarter valued at approximately $ 36,000. Evermay Wealth Management LLC acquired a new position in WesBanco shares during the 2nd quarter valued at approximately $ 36,000. Federated Hermes Inc. acquired a new position in WesBanco shares during the 2nd quarter valued at approximately $ 38,000. O Shaughnessy Asset Management LLC acquired a new position in WesBanco shares during the 3rd quarter valued at approximately $ 54,000. Finally, Advisory Services Network LLC acquired a new position in WesBanco shares during the second quarter valued at approximately $ 80,000. 62.19% of the shares are currently held by hedge funds and other institutional investors.
WesBanco Company Profile
WesBanco, Inc is a banking holding company that provides financial services. It operates in the following segments: Community Banking and Trust and Investment Services. The community banking segment provides services traditionally offered by commercial banking services, including sight, sight and term commercial accounts, as well as commercial, mortgage and individual installment loans, and some non-traditional offerings, such as as insurance and securities brokerage. services.
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