WesBanco (NASDAQ:WSBC) Stock Crosses Above 200-Day Moving Average – Time to Sell?

WesBanco, Inc. (NASDAQ:WSBC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $32.85 and traded as high as $37.17. WesBanco shares last traded at $36.61, with a volume of 346,935 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WSBC shares. Piper Sandler assumed coverage on WesBanco in a report on Wednesday, December 17th. They set an “overweight” rating and a $42.00 target price on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of WesBanco in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

WesBanco Stock Down 0.1%

The business has a fifty day moving average of $35.06 and a 200 day moving average of $32.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 17.69 and a beta of 0.80.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.84 EPS for the quarter, meeting analysts’ consensus estimates of $0.84. WesBanco had a return on equity of 8.88% and a net margin of 15.51%.The company had revenue of $265.78 million for the quarter, compared to the consensus estimate of $265.53 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, equities analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current year.

Insider Buying and Selling

In other WesBanco news, Director F Eric Nelson, Jr. sold 752 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $33.37, for a total transaction of $25,094.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On WesBanco

Hedge funds have recently made changes to their positions in the stock. Guggenheim Capital LLC increased its holdings in WesBanco by 41.1% in the 4th quarter. Guggenheim Capital LLC now owns 36,652 shares of the financial services provider’s stock valued at $1,218,000 after purchasing an additional 10,675 shares during the last quarter. Appalachian Capital Management Ltd purchased a new position in shares of WesBanco during the fourth quarter worth $749,000. Abel Hall LLC acquired a new stake in shares of WesBanco in the fourth quarter valued at $201,000. Jain Global LLC acquired a new stake in shares of WesBanco in the fourth quarter valued at $654,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of WesBanco by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 101,050 shares of the financial services provider’s stock valued at $3,359,000 after buying an additional 2,413 shares during the period. Hedge funds and other institutional investors 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.