WesBanco (NASDAQ:WSBC) Given Equal Weight Rating at Stephens

WesBanco (NASDAQ:WSBC)‘s stock had its “equal weight” rating restated by equities research analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They currently have a $39.00 target price on the financial services provider’s stock. Stephens’ target price would indicate a potential upside of 14.77% from the stock’s previous close.

Separately, Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $35.00 to $44.00 in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, WesBanco has an average rating of “Moderate Buy” and an average price target of $38.67.

WesBanco Stock Performance

WesBanco stock traded up $2.24 during mid-day trading on Thursday, reaching $33.98. 209,273 shares of the company traded hands, compared to its average volume of 351,867. WesBanco has a fifty-two week low of $25.56 and a fifty-two week high of $37.36. The firm’s fifty day moving average is $33.79 and its two-hundred day moving average is $32.03. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 16.32 and a beta of 0.85.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a return on equity of 5.75% and a net margin of 14.79%. On average, equities research analysts expect that WesBanco will post 2.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $34.87, for a total value of $39,228.75. Following the completion of the transaction, the executive vice president now owns 46,817 shares in the company, valued at approximately $1,632,508.79. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.44% of the company’s stock.

Hedge Funds Weigh In On WesBanco

Institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. increased its position in shares of WesBanco by 12.3% in the second quarter. American Century Companies Inc. now owns 99,418 shares of the financial services provider’s stock valued at $2,775,000 after buying an additional 10,927 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in WesBanco by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 227,429 shares of the financial services provider’s stock valued at $6,348,000 after acquiring an additional 6,043 shares during the period. Renaissance Technologies LLC increased its holdings in WesBanco by 42.2% in the 2nd quarter. Renaissance Technologies LLC now owns 50,525 shares of the financial services provider’s stock worth $1,410,000 after acquiring an additional 15,000 shares in the last quarter. AQR Capital Management LLC raised its position in WesBanco by 8.2% during the second quarter. AQR Capital Management LLC now owns 75,616 shares of the financial services provider’s stock worth $2,110,000 after acquiring an additional 5,747 shares during the period. Finally, Millennium Management LLC lifted its holdings in WesBanco by 466.7% during the second quarter. Millennium Management LLC now owns 152,858 shares of the financial services provider’s stock valued at $4,266,000 after purchasing an additional 125,883 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

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.