WesBanco (NASDAQ:WSBC) Downgraded by Wall Street Zen to Hold

Key Points

• WesBanco has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a potential shift in analyst sentiment regarding the stock's performance.
• The company reported an earnings per share (EPS) of $0.91 in its last quarterly earnings, surpassing the consensus estimate of $0.87 but slightly missing revenue expectations by reporting $260.73 million.
• Significant insider activity occurred with Director Todd Clossin buying 8,000 shares and CFO K Weiss Daniel acquiring 4,000 shares, suggesting confidence in the company's future by its leaders.

WesBanco (NASDAQ:WSBC - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Friday.

WesBanco Trading Up 0.7%

Shares of WSBC opened at $32.33 on Friday. The stock has a market capitalization of $3.10 billion, a PE ratio of 19.48 and a beta of 0.85. The company's fifty day moving average is $31.60 and its 200 day moving average is $31.08. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. WesBanco has a fifty-two week low of $26.42 and a fifty-two week high of $37.36.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $260.73 million during the quarter, compared to analyst estimates of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.29%. During the same quarter last year, the business earned $0.49 earnings per share. Sell-side analysts expect that WesBanco will post 3.24 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Todd Clossin purchased 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were bought at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the acquisition, the director owned 8,000 shares of the company's stock, valued at approximately $200,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO K Weiss Daniel acquired 4,000 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the transaction, the chief financial officer directly owned 4,000 shares of the company's stock, valued at approximately $100,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 49,600 shares of company stock worth $1,240,000. Company insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of WesBanco by 40.3% during the 1st 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 boosted its stake in shares of 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 valued at $179,358,000 after purchasing an additional 1,730,801 shares during the period. First Trust Advisors LP boosted its stake in shares of 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 valued at $40,526,000 after purchasing an additional 1,159,158 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of WesBanco by 179.7% in 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 during the last quarter. Finally, Hood River Capital Management LLC purchased a new position in WesBanco in the 2nd quarter worth about $29,869,000. 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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