WesBanco (NASDAQ:WSBC) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded WesBanco from “hold” to “sell,” although other analysts remain generally positive; MarketBeat’s consensus rating is “Moderate Buy” with an average price target of $43.20.
• WesBanco reported quarterly EPS of $0.92, beating the $0.85 consensus estimate, while revenue of $275.79 million also exceeded expectations.
• The stock opened at $41.38, near its 12-month high of $42.21. The company authorized a repurchase of up to 4 million shares, but insiders sold 28,625 shares worth about $1.17 million during the last quarter.

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

A number of other research firms have also weighed in on WSBC. DA Davidson set a $46.00 target price on WesBanco in a research note on Thursday, July 23rd. Zacks Research upgraded WesBanco from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $42.00 price target on shares of WesBanco in a research note on Thursday, July 23rd. Royal Bank Of Canada increased their price objective on WesBanco from $41.00 to $44.00 and gave the company a "sector perform" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings upgraded shares of WesBanco from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $43.20.

WesBanco Stock Performance

WesBanco stock opened at $41.38 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $3.98 billion, a PE ratio of 12.03 and a beta of 0.67. The firm has a fifty day simple moving average of $37.94 and a two-hundred day simple moving average of $35.94. WesBanco has a twelve month low of $29.18 and a twelve month high of $42.21.

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

WesBanco declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 20th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Jayson M. Zatta sold 12,500 shares of WesBanco stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $41.80, for a total transaction of $522,500.00. Following the sale, the executive vice president owned 81,082 shares of the company's stock, valued at approximately $3,389,227.60. The trade was a 13.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kimberly L. Griffith sold 6,875 shares of the business's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $41.20, for a total transaction of $283,250.00. Following the transaction, the executive vice president owned 15,858 shares in the company, valued at $653,349.60. This represents a 30.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 28,625 shares of company stock valued at $1,168,982 over the last quarter. 2.07% of the stock is owned by company insiders.

Institutional Trading of WesBanco

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in WesBanco by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 9,819,476 shares of the financial services provider's stock worth $326,399,000 after buying an additional 224,107 shares during the last quarter. Wesbanco Bank Inc. grew its holdings in shares of WesBanco by 5.5% during the fourth quarter. Wesbanco Bank Inc. now owns 1,570,275 shares of the financial services provider's stock valued at $52,196,000 after buying an additional 81,974 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of WesBanco during the fourth quarter valued at approximately $1,492,000. Gator Capital Management LLC bought a new stake in shares of WesBanco during the fourth quarter valued at approximately $1,462,000. Finally, Edgestream Partners L.P. increased its position in shares of WesBanco by 65.0% during the first quarter. Edgestream Partners L.P. now owns 240,829 shares of the financial services provider's stock valued at $8,306,000 after acquiring an additional 94,863 shares in the last quarter. 61.41% of the stock is owned by institutional investors.

WesBanco Company Profile

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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