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

by · The Cerbat Gem

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

WesBanco Stock Performance

Shares of NASDAQ:WSBC opened at $31.61 on Friday. The stock has a market capitalization of $3.03 billion, a P/E ratio of 19.04 and a beta of 0.85. WesBanco has a 1-year low of $26.42 and a 1-year 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. The business has a 50-day moving average price of $31.81 and a two-hundred day moving average price of $31.12.

WesBanco (NASDAQ:WSBC – Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $260.73 million during the quarter, compared to analysts’ expectations of $261.14 million. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.During the same period in the previous year, the business posted $0.49 EPS. Equities analysts predict that WesBanco will post 3.24 earnings per share for the current year.

Hedge Funds Weigh In On WesBanco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WSBC. Vanguard Group Inc. boosted its holdings in WesBanco by 40.3% during the first quarter. Vanguard Group Inc. now owns 9,413,008 shares of the financial services provider’s stock worth $291,427,000 after buying an additional 2,702,469 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in WesBanco by 42.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,793,319 shares of the financial services provider’s stock worth $179,358,000 after buying an additional 1,730,801 shares during the last quarter. First Trust Advisors LP boosted its holdings in WesBanco by 949.3% during the second quarter. First Trust Advisors LP now owns 1,281,260 shares of the financial services provider’s stock worth $40,526,000 after buying an additional 1,159,158 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in WesBanco by 179.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock worth $47,779,000 after buying an additional 991,584 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new position in WesBanco during the second quarter worth about $29,869,000. Institutional investors own 61.41% of the company’s stock.

WesBanco Company Profile

(Get Free Report)

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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