WesBanco (NASDAQ:WSBC) Stock Dropped to Sell by Wall Street Zen

Wall Street Zen cut shares of WesBanco (NASDAQ:WSBC – Free Report) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the stock. DA Davidson set a $46.00 price target on shares of WesBanco in a research report on Thursday, July 23rd. Zacks Research raised shares of WesBanco from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $44.00 price objective on shares of WesBanco in a report on Monday, September 14th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $42.00 price objective on shares of WesBanco in a research report on Thursday, July 23rd. Finally, Piper Sandler lowered their target price on WesBanco from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.60.

Read Our Latest Stock Report on WSBC

WesBanco Stock Up 0.5%

Shares of NASDAQ WSBC opened at $37.22 on Friday. The company has a market capitalization of $3.57 billion, a P/E ratio of 10.82 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.93. The company has a 50 day simple moving average of $39.53 and a 200-day simple moving average of $37.76. WesBanco has a 1 year low of $29.57 and a 1 year high of $43.02.

WesBanco (NASDAQ:WSBC – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $275.79 million for the quarter, compared to analysts’ expectations of $267.71 million. WesBanco had a return on equity of 9.72% and a net margin of 23.35%. On average, equities research analysts predict that WesBanco will post 3.57 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 4th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, September 4th. WesBanco’s dividend payout ratio (DPR) is 44.19%.

Insider Activity

In related news, EVP Kimberly Griffith sold 6,875 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $41.20, for a total value of $283,250.00. Following the completion of the sale, the executive vice president directly owned 15,858 shares of the company’s stock, valued at $653,349.60. The trade was a 30.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jan Pattishall-Krupinski sold 2,250 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $41.45, for a total transaction of $93,262.50. Following the completion of the transaction, the executive vice president owned 33,674 shares of the company’s stock, valued at $1,395,787.30. This represents a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 35,195 shares of company stock worth $1,465,800 over the last three months. Company insiders own 2.07% of the company’s stock.

Institutional Trading of WesBanco

A number of large investors have recently bought and sold shares of WSBC. BlackRock Inc. purchased a new stake in WesBanco during the 2nd quarter valued at approximately $363,992,000. Dimensional Fund Advisors LP boosted its stake in shares of WesBanco by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 5,451,344 shares of the financial services provider’s stock valued at $188,013,000 after buying an additional 59,077 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of WesBanco in the second quarter valued at approximately $84,562,000. Bank of New York Mellon Corp acquired a new position in WesBanco during the second quarter worth $36,433,000. Finally, Segall Bryant & Hamill LLC grew its holdings in WesBanco by 0.7% during the first quarter. Segall Bryant & Hamill LLC now owns 928,768 shares of the financial services provider’s stock worth $32,033,000 after acquiring an additional 6,784 shares during the period. Institutional investors and hedge funds own 61.41% of the company’s stock.

WesBanco Company Profile

(Get Free Report)

WesBanco, Inc is a financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to consumers, businesses, and organizations.

WesBanco’s offerings include checking and savings accounts, consumer and residential real estate loans, commercial lending, credit cards, online and mobile banking, and other deposit and treasury management services. The company also provides trust, investment management, brokerage, and insurance services through affiliated businesses and financial professionals.

Founded in 1870, WesBanco has developed a regional banking presence serving communities in West Virginia, Ohio, Pennsylvania, Kentucky, and Indiana.

Further Reading

Analyst Recommendations for WesBanco (NASDAQ:WSBC)

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