Weiss Ratings Reiterates "Hold (C)" Rating for WesBanco (NASDAQ:WSBC)

Key Points

• Weiss Ratings has reiterated a "Hold (C)" rating for WesBanco (NASDAQ:WSBC), while others like Wall Street Zen and DA Davidson have similarly adjusted their ratings to hold.
• WesBanco reported earnings of $0.94 per share, surpassing analyst expectations, but revenue for the quarter fell slightly short of predictions.
• Significant insider activity includes multiple directors purchasing shares at an average price of $25.00, indicating confidence in the company's future performance.

WesBanco (NASDAQ:WSBC - Get Free Report)'s stock had its "hold (c)" rating reiterated by research analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of WesBanco from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Royal Bank Of Canada upped their price objective on shares of WesBanco from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Friday, October 10th. Finally, DA Davidson cut shares of WesBanco from a "strong-buy" rating to a "hold" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, WesBanco currently has an average rating of "Moderate Buy" and an average price target of $39.17.

WesBanco Stock Performance

Shares of WSBC stock traded up $0.62 during trading hours on Friday, hitting $31.31. The company's stock had a trading volume of 466,317 shares, compared to its average volume of 599,016. The company has a 50 day moving average of $32.09 and a 200 day moving average of $31.24. The stock has a market cap of $3.01 billion, a PE ratio of 15.97 and a beta of 0.85. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.57. WesBanco has a 12-month low of $26.42 and a 12-month high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.05. WesBanco had a net margin of 13.91% and a return on equity of 8.55%. The firm had revenue of $261.58 million for the quarter, compared to the consensus estimate of $263.38 million. During the same period in the prior year, the firm posted $0.54 earnings per share. On average, sell-side analysts forecast that WesBanco will post 3.24 EPS for the current fiscal year.

Insider Activity at WesBanco

In related news, Director Todd Clossin bought 8,000 shares of the stock in a transaction on Wednesday, September 17th. The stock was bought at an average price of $25.00 per share, with a total value of $200,000.00. Following the completion of the purchase, the director directly owned 8,000 shares in the company, valued at $200,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph R. Robinson acquired 8,000 shares of the stock in a transaction dated Wednesday, September 17th. The stock was acquired at an average cost of $25.00 per share, with a total value of $200,000.00. Following the purchase, the director owned 8,000 shares of the company's stock, valued at approximately $200,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 49,600 shares of company stock valued at $1,240,000 over the last quarter. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WSBC. Vanguard Group Inc. lifted its stake in WesBanco by 40.3% in the first quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider's stock worth $291,427,000 after acquiring an additional 2,702,469 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in WesBanco by 42.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider's stock worth $179,358,000 after purchasing an additional 1,730,801 shares in the last quarter. First Trust Advisors LP raised its holdings in WesBanco by 949.3% during the second quarter. First Trust Advisors LP now owns 1,281,260 shares of the financial services provider's stock worth $40,526,000 after purchasing an additional 1,159,158 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in WesBanco by 179.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider's stock worth $47,779,000 after purchasing an additional 991,584 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in WesBanco during the second quarter worth approximately $29,869,000. Hedge funds and other institutional investors 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.

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