WesBanco (NASDAQ:WSBC) Lowered to “Sell” at Zacks Investment Research

WesBanco (NASDAQ:WSBC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are engaged in general banking business. “

Other equities analysts have also recently issued reports about the stock. ValuEngine upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub cut shares of WesBanco from a “hold” rating to a “sell” rating in a research report on Friday, January 10th. Finally, Stephens began coverage on shares of WesBanco in a research report on Monday, January 6th. They set an “overweight” rating and a $41.50 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $41.38.

Shares of WSBC traded down $0.03 during trading hours on Wednesday, hitting $36.80. The stock had a trading volume of 1,822 shares, compared to its average volume of 204,373. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a 50-day moving average price of $37.09 and a 200 day moving average price of $36.79. WesBanco has a fifty-two week low of $33.19 and a fifty-two week high of $43.13. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 11.47 and a beta of 1.13.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10). WesBanco had a net margin of 28.22% and a return on equity of 8.38%. The firm had revenue of $117.35 million during the quarter, compared to analyst estimates of $126.48 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts predict that WesBanco will post 2.95 EPS for the current fiscal year.

In other WesBanco news, Director Michael J. Crawford sold 10,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $37.51, for a total transaction of $375,100.00. Following the completion of the transaction, the director now directly owns 1,650 shares in the company, valued at $61,891.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan D. Dargusch sold 4,504 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $38.10, for a total transaction of $171,602.40. Following the transaction, the executive vice president now owns 20,219 shares of the company’s stock, valued at $770,343.90. The disclosure for this sale can be found here. Corporate insiders own 3.24% of the company’s stock.

Large investors have recently bought and sold shares of the business. First Mercantile Trust Co. acquired a new stake in shares of WesBanco in the third quarter valued at about $43,000. Denali Advisors LLC acquired a new stake in shares of WesBanco in the third quarter valued at about $101,000. SG Americas Securities LLC raised its position in shares of WesBanco by 11.1% in the third quarter. SG Americas Securities LLC now owns 3,168 shares of the financial services provider’s stock valued at $118,000 after buying an additional 317 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of WesBanco by 17.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,676 shares of the financial services provider’s stock valued at $137,000 after buying an additional 548 shares during the last quarter. Finally, Horan Capital Advisors LLC. acquired a new stake in shares of WesBanco in the third quarter valued at about $155,000. Institutional investors own 61.69% of the company’s stock.

About WesBanco

WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.

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