WesBanco (NASDAQ:WSBC) Stock Rating Upgraded by Wall Street Zen

Key Points

• WesBanco's stock rating has been upgraded from a "hold" to a "buy" by analysts at Wall Street Zen.
• The company reported earnings of $0.91 per share for the last quarter, which exceeded expectations of $0.87 by $0.04.
• Institutional investors have been actively increasing their stakes in WesBanco, with Osaic Holdings Inc. boosting its stake by 108% in the second quarter.

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

WesBanco Trading Down 0.8%

WesBanco stock opened at $31.61 on Friday. The firm has a 50 day moving average of $31.81 and a 200 day moving average of $31.17. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 19.04 and a beta of 0.85. WesBanco has a 12-month low of $26.42 and a 12-month high of $37.36. 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 (NASDAQ:WSBC - Get Free Report) last released its 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. The company 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 period in the prior year, the firm posted $0.49 EPS. As a group, research analysts predict that WesBanco will post 3.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its stake in WesBanco by 108.0% in the 2nd quarter. Osaic Holdings Inc. now owns 150,637 shares of the financial services provider's stock worth $4,765,000 after purchasing an additional 78,214 shares during the period. Thrivent Financial for Lutherans boosted its stake in WesBanco by 29.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 42,849 shares of the financial services provider's stock worth $1,355,000 after purchasing an additional 9,660 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in WesBanco by 29.7% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 17,352 shares of the financial services provider's stock worth $549,000 after purchasing an additional 3,970 shares during the period. Tower Research Capital LLC TRC boosted its stake in WesBanco by 64.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,785 shares of the financial services provider's stock worth $341,000 after purchasing an additional 4,235 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in WesBanco by 105.7% in the 2nd quarter. Corient Private Wealth LLC now owns 98,168 shares of the financial services provider's stock worth $3,105,000 after purchasing an additional 50,453 shares during the period. 61.41% of the stock is currently owned by institutional investors.

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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