WesBanco (NASDAQ:WSBC – Get Free Report) had its target price reduced by investment analysts at Raymond James from $44.00 to $38.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “strong-buy” rating on the financial services provider’s stock. Raymond James’ price objective would suggest a potential upside of 33.19% from the stock’s previous close.
WSBC has been the subject of a number of other reports. Stephens reiterated an “equal weight” rating and issued a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. StockNews.com upgraded WesBanco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $40.00 to $44.00 in a research note on Monday, February 10th. Finally, DA Davidson lifted their price target on shares of WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, WesBanco has a consensus rating of “Moderate Buy” and an average target price of $39.43.
View Our Latest Research Report on WSBC
WesBanco Stock Down 8.1 %
WesBanco (NASDAQ:WSBC – Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping 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%. Analysts predict that WesBanco will post 3.24 EPS for the current year.
Institutional Trading of WesBanco
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC acquired a new stake in WesBanco during the 4th quarter worth $328,000. Geode Capital Management LLC increased its position in shares of WesBanco by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,419,070 shares of the financial services provider’s stock worth $42,268,000 after purchasing an additional 32,879 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of WesBanco in the 3rd quarter valued at about $1,148,000. Inspire Advisors LLC boosted its position in shares of WesBanco by 18.7% in the 4th quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider’s stock valued at $2,056,000 after purchasing an additional 9,955 shares during the period. Finally, FMR LLC boosted its position in shares of WesBanco by 25.8% in the 3rd quarter. FMR LLC now owns 695,487 shares of the financial services provider’s stock valued at $20,712,000 after purchasing an additional 142,597 shares during the period. Institutional investors and hedge funds own 61.41% of the company’s stock.
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.
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