WesBanco (NASDAQ:WSBC) Earns Hold (C) Rating from Weiss Ratings

Key Points

• WesBanco received a "hold (c)" rating from Weiss Ratings, and its rating was further downgraded to "hold" by Wall Street Zen, reflecting mixed analyst sentiment about the stock.
• The stock recently traded at $33.52, showing a 0.6% increase, while its 12-month price range is between $26.42 and $37.36, with a market cap of $3.22 billion.
• Recent insider transactions indicate confidence, as CEO Jeffrey H. Jackson and Director Joseph R. Robinson acquired shares at $25.00, totaling over $300,000 in new investments.

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

Separately, Wall Street Zen downgraded WesBanco from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, WesBanco currently has a consensus rating of "Moderate Buy" and an average target price of $38.83.

WesBanco Stock Up 0.6%

Shares of WSBC stock traded up $0.19 during mid-day trading on Wednesday, reaching $33.52. 164,143 shares of the company's stock traded hands, compared to its average volume of 596,607. WesBanco has a 12 month low of $26.42 and a 12 month high of $37.36. The company has a market cap of $3.22 billion, a P/E ratio of 20.12 and a beta of 0.85. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.57. The company's 50-day moving average price is $31.63 and its 200-day moving average price is $31.12.

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

Insider Transactions at WesBanco

In related news, CEO Jeffrey H. Jackson purchased 4,000 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was bought at an average cost of $25.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the chief executive officer owned 4,000 shares of the company's stock, valued at $100,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph R. Robinson acquired 8,000 shares of WesBanco stock in a transaction that occurred on Wednesday, September 17th. The stock was purchased at an average cost of $25.00 per share, with a total value of $200,000.00. Following the completion of the purchase, the director owned 8,000 shares in the company, valued at $200,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 49,600 shares of company stock valued at $1,240,000 over the last quarter. Company insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On WesBanco

A number of hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in WesBanco in the 4th quarter valued at about $248,000. GAMMA Investing LLC grew its stake in shares of WesBanco by 8,441.5% in the 1st quarter. GAMMA Investing LLC now owns 19,133 shares of the financial services provider's stock valued at $618,000 after purchasing an additional 18,909 shares during the last quarter. Rhumbline Advisers grew its stake in shares of WesBanco by 41.7% in the 1st quarter. Rhumbline Advisers now owns 133,759 shares of the financial services provider's stock valued at $4,141,000 after purchasing an additional 39,388 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of WesBanco by 43.7% in the 1st quarter. Handelsbanken Fonder AB now owns 17,100 shares of the financial services provider's stock valued at $529,000 after purchasing an additional 5,200 shares during the last quarter. Finally, SummerHaven Investment Management LLC purchased a new stake in shares of WesBanco in the first quarter valued at approximately $941,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Company Profile

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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