WesBanco (NASDAQ:WSBC) Earns Buy Rating from DA Davidson

Key Points

• DA Davidson reaffirmed a Buy rating on WesBanco with a $41 price target (about a 23.9% upside), and the stock's consensus analyst rating is Buy with a $40 consensus target.
• WesBanco reported quarterly EPS of $0.91, beating estimates by $0.05, but revenue declined 3.1% year‑over‑year and missed the consensus.
• Shares fell to $33.09 on heavy volume, valuing the company at roughly $3.18 billion with a trailing P/E of about 16.

WesBanco (NASDAQ:WSBC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $41.00 price target on the financial services provider's stock. DA Davidson's price objective indicates a potential upside of 23.90% from the company's previous close.

Several other equities research analysts also recently commented on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $41.00 target price on shares of WesBanco in a research note on Thursday, March 12th. Weiss Ratings upgraded shares of WesBanco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, WesBanco presently has a consensus rating of "Buy" and a consensus price target of $40.00.

WesBanco Stock Performance

WSBC traded down $2.64 during trading on Wednesday, reaching $33.09. 859,116 shares of the company's stock were exchanged, compared to its average volume of 546,180. WesBanco has a fifty-two week low of $28.74 and a fifty-two week high of $38.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $35.00 and a 200 day moving average price of $33.85. The company has a market capitalization of $3.18 billion, a P/E ratio of 15.97 and a beta of 0.74.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. WesBanco had a net margin of 15.51% and a return on equity of 8.81%. The firm had revenue of $257.23 million for the quarter, compared to the consensus estimate of $264.52 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. The business's revenue was down 3.1% compared to the same quarter last year. As a group, analysts predict that WesBanco will post 3.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bayview Asset Management LLC raised its holdings in shares of WesBanco by 0.4% in the fourth quarter. Bayview Asset Management LLC now owns 80,300 shares of the financial services provider's stock valued at $2,669,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of WesBanco by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider's stock valued at $37,000 after buying an additional 324 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of WesBanco by 0.7% in the fourth quarter. Corient Private Wealth LLC now owns 50,414 shares of the financial services provider's stock valued at $1,677,000 after buying an additional 357 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of WesBanco by 77.9% in the third quarter. True Wealth Design LLC now owns 877 shares of the financial services provider's stock valued at $28,000 after buying an additional 384 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of WesBanco by 1.6% in the third quarter. IFP Advisors Inc now owns 24,864 shares of the financial services provider's stock valued at $794,000 after buying an additional 385 shares during the last quarter. 61.41% of the stock is owned by institutional investors.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.

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