WesBanco (NASDAQ:WSBC) Stock Rating Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded WesBanco to “sell” from “hold,” while the broader analyst consensus remains “hold,” with an average price target of $43.60.
• WesBanco shares opened at $37.22, with a market capitalization of $3.57 billion and a price-to-earnings ratio of 10.82. The company’s latest quarterly results exceeded expectations, reporting EPS of $0.92 versus the $0.85 consensus and revenue of $275.79 million.
• Insiders sold 35,195 shares worth approximately $1.47 million over the past 90 days, while institutional investors and hedge funds own 61.41% of WesBanco’s outstanding stock.

WesBanco (NASDAQ:WSBC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research firms have also weighed in on WSBC. Raymond James Financial lowered WesBanco from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 6th. Zacks Research raised WesBanco from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Royal Bank Of Canada reiterated a "sector perform" rating and set a $44.00 price target on shares of WesBanco in a research report on Monday, September 14th. DA Davidson set a $46.00 price objective on shares of WesBanco in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of WesBanco in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, WesBanco currently has a consensus rating of "Hold" and an average price target of $43.60.

WesBanco Trading Up 0.5%

Shares of WesBanco stock opened at $37.22 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a fifty day moving average price of $39.53 and a 200 day moving average price of $37.76. WesBanco has a 1 year low of $29.57 and a 1 year high of $43.02. The stock has a market cap of $3.57 billion, a PE ratio of 10.82 and a beta of 0.69.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.07. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. The company had revenue of $275.79 million during the quarter, compared to the consensus estimate of $267.71 million. Equities research analysts predict that WesBanco will post 3.57 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jayson Zatta sold 12,500 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $41.80, for a total value of $522,500.00. Following the completion of the transaction, the executive vice president directly owned 81,082 shares in the company, valued at approximately $3,389,227.60. This represents a 13.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kimberly Griffith sold 6,875 shares of the firm's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $41.20, for a total value of $283,250.00. Following the sale, the executive vice president directly owned 15,858 shares of the company's stock, valued at $653,349.60. The trade was a 30.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,195 shares of company stock valued at $1,465,800 in the last ninety days. Company insiders own 2.07% of the company's stock.

Institutional Investors Weigh In On WesBanco

A number of institutional investors have recently made changes to their positions in the stock. Nykredit A S acquired a new position in shares of WesBanco in the 2nd quarter worth approximately $40,000. Public Employees Retirement System of Ohio purchased a new position in shares of WesBanco during the 2nd quarter worth approximately $57,000. GAMMA Investing LLC increased its holdings in WesBanco by 39.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,546 shares of the financial services provider's stock valued at $95,000 after purchasing an additional 714 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in WesBanco by 36.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,572 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 692 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in WesBanco in the 1st quarter valued at approximately $126,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Company Profile

WesBanco, Inc is a financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to consumers, businesses, and organizations.

WesBanco's offerings include checking and savings accounts, consumer and residential real estate loans, commercial lending, credit cards, online and mobile banking, and other deposit and treasury management services. The company also provides trust, investment management, brokerage, and insurance services through affiliated businesses and financial professionals.

Founded in 1870, WesBanco has developed a regional banking presence serving communities in West Virginia, Ohio, Pennsylvania, Kentucky, and Indiana.

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