WesBanco (NASDAQ:WSBC) Upgraded to Strong-Buy at DA Davidson

WesBanco (NASDAQ:WSBC) was upgraded by analysts at DA Davidson to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also issued reports on the company. Piper Sandler began coverage on WesBanco in a report on Wednesday, December 17th. They issued an “overweight” rating and a $42.00 target price for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of WesBanco in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $40.00.

WesBanco Stock Up 3.0%

Shares of WSBC opened at $36.38 on Tuesday. The company’s 50-day simple moving average is $35.22 and its 200-day simple moving average is $33.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. WesBanco has a 1 year low of $26.42 and a 1 year high of $38.10. The stock has a market capitalization of $3.49 billion, a PE ratio of 17.57 and a beta of 0.80.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.84. The firm had revenue of $265.78 million during the quarter, compared to analysts’ expectations of $265.53 million. WesBanco had a net margin of 15.51% and a return on equity of 8.88%. During the same quarter in the previous year, the business posted $0.71 earnings per share. Analysts forecast that WesBanco will post 3.24 earnings per share for the current fiscal year.

Insider Buying and Selling at WesBanco

In other news, Director F Eric Nelson, Jr. sold 752 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $33.37, for a total value of $25,094.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On WesBanco

Large investors have recently bought and sold shares of the stock. Bayview Asset Management LLC increased its position in shares of WesBanco by 0.4% during the fourth quarter. Bayview Asset Management LLC now owns 80,300 shares of the financial services provider’s stock worth $2,669,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC grew its stake in WesBanco by 41.1% during the 4th quarter. GAMMA Investing LLC now owns 1,113 shares of the financial services provider’s stock worth $37,000 after buying an additional 324 shares during the last quarter. True Wealth Design LLC grew its stake in WesBanco by 77.9% during the 3rd quarter. True Wealth Design LLC now owns 877 shares of the financial services provider’s stock worth $28,000 after buying an additional 384 shares during the last quarter. IFP Advisors Inc increased its position in WesBanco by 1.6% during the third quarter. IFP Advisors Inc now owns 24,864 shares of the financial services provider’s stock worth $794,000 after buying an additional 385 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its stake in WesBanco by 3.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,341 shares of the financial services provider’s stock valued at $443,000 after buying an additional 390 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

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.