WesBanco (NASDAQ: WSBC) High to ‘Buy’ at Zacks Investment Research
WesBanco (NASDAQ: WSBC) has been improved by Zacks investment research from a “keep” note to a “buy” note in a report published on Thursday, Zacks.com reports. The brokerage currently has a target price of $ 38.00 on the shares of the financial services provider. Zacks investment researchThe price target for s indicates a potential rise of 10.40% from the current share price.
According to Zacks, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are engaged in general banking activities.
Several other analysts also commented on the company recently. Raymond James demoted WesBanco from an “outperformance” rating to a “market performance” rating in a Thursday, July 8 research note. B. Riley reissued a “neutral” rating on WesBanco shares in a research note on Tuesday, July 27. Finally, the Royal Bank of Canada increased its price target on WesBanco from $ 36.00 to $ 38.00 and assigned the stock a “sector performance” rating in a research note on Wednesday. Six equity research analysts rated the stock with a conservation rating and one issued a buy rating for the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $ 34.75.
WSBC Actions traded up $ 0.01 during Thursday’s session, reaching $ 34.42. 404 shares were traded, for an average volume of 262,995. The company’s 50-day moving average is $ 32.86 and its 200-day moving average is $ 35.38. WesBanco has a twelve month low of $ 21.10 and a twelve month high of $ 39.87. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt ratio of 0.19. The company has a market cap of $ 2.25 billion, a P / E ratio of 10.06 and a beta of 1.09.
WesBanco (NASDAQ: WSBC) last released its quarterly results on Tuesday, July 27. The financial services provider reported earnings per share of $ 1.01 for the quarter, beating analyst consensus estimates of $ 0.75 by $ 0.26. WesBanco recorded a return on equity of 9.17% and a net margin of 36.64%. The company posted revenue of $ 151.97 million for the quarter, compared to a consensus estimate of $ 149.17 million. During the same period of the previous year, the company made EPS of $ 0.07. The company’s revenue for the quarter increased 0.1% year-over-year. As a group, analysts expect WesBanco to post earnings per share of 3.42 for the current fiscal year.
Hedge funds and other institutional investors have recently changed their positions in the company. Prudential Financial Inc. increased its holdings in WesBanco by 12.8% in the first quarter. Prudential Financial Inc. now owns 145,320 shares of the financial services provider valued at $ 5,240,000 after purchasing an additional 16,453 shares during the period. Envestnet Asset Management Inc. increased its holdings in WesBanco by 43.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,601 shares of the financial services provider valued at $ 1,861,000 after purchasing an additional 15,513 shares during the period. Stifel Financial Corp increased its holdings in WesBanco by 13.9% in the first quarter. Stifel Financial Corp now owns 54,681 shares of the financial services provider valued at $ 1,972,000 after purchasing an additional 6,670 shares during the period. BlackRock Inc. increased its holdings in WesBanco by 5.7% in the first quarter. BlackRock Inc. now owns 5,459,082 shares of the financial services provider valued at $ 196,855,000 after purchasing an additional 296,406 shares during the period. Finally, DE Shaw & Co. Inc. purchased a new position in WesBanco during the first quarter valued at $ 344,000. 62.31% of the shares are held by institutional investors and hedge funds.
WesBanco Company Profile
WesBanco, Inc is a banking holding company that provides financial services. It operates in the following segments: Community Banking Services and Trust and Investment Services. The Community Banking segment provides services traditionally offered by service commercial banks, including sight, sight and term commercial accounts, as well as commercial, mortgage and individual installment loans, and some non-traditional offerings, such as insurance and securities brokerage. services.
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