WesBanco (NASDAQ:WSBC) Stock Price Expected to Rise, DA Davidson Analyst Says

WesBanco (NASDAQ:WSBC) had its price target increased by DA Davidson from $44.00 to $45.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price target points to a potential upside of 28.46% from the company’s previous close.

A number of other equities analysts also recently issued reports on WSBC. Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. Stephens reaffirmed an “equal weight” rating and set a $39.00 price target on shares of WesBanco in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of WesBanco from a “sell” rating to a “hold” rating in a report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.17.

WesBanco Price Performance

NASDAQ WSBC opened at $35.03 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 15.64 and a beta of 0.85. The stock has a 50-day moving average of $33.71 and a 200 day moving average of $32.23. WesBanco has a one year low of $25.56 and a one year high of $37.36.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. On average, sell-side analysts forecast that WesBanco will post 3.09 EPS for the current year.

Insider Transactions at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 1,125 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $34.87, for a total transaction of $39,228.75. Following the sale, the executive vice president now directly owns 46,817 shares of the company’s stock, valued at $1,632,508.79. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.44% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hilltop National Bank grew its holdings in WesBanco by 19.6% during the 4th quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock valued at $82,000 after buying an additional 413 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of WesBanco by 3.9% in the third quarter. Harbor Capital Advisors Inc. now owns 17,590 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 668 shares in the last quarter. Cerity Partners LLC increased its position in WesBanco by 3.0% in the third quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 867 shares during the last quarter. Quarry LP raised its stake in WesBanco by 215.3% during the second quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 913 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in WesBanco by 9.3% during the third quarter. Inspire Investing LLC now owns 13,801 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 1,171 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Company Profile

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.