DA Davidson Begins Coverage on WesBanco (NASDAQ:WSBC)

Research analysts at DA Davidson initiated coverage on shares of WesBanco (NASDAQ:WSBC) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $44.00 price target on the financial services provider’s stock. DA Davidson’s price target suggests a potential upside of 21.28% from the stock’s previous close.

WSBC has been the subject of a number of other reports. Piper Sandler started coverage on WesBanco in a report on Wednesday, December 17th. They issued an “overweight” rating and a $42.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of WesBanco in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, WesBanco currently has an average rating of “Buy” and an average price target of $40.00.

WesBanco Stock Down 0.3%

Shares of NASDAQ WSBC opened at $36.28 on Wednesday. The firm’s 50-day moving average is $35.24 and its two-hundred day moving average is $33.12. The company has a market capitalization of $3.48 billion, a PE ratio of 17.53 and a beta of 0.80. WesBanco has a 12-month low of $26.42 and a 12-month high of $38.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.84. WesBanco had a return on equity of 8.88% and a net margin of 15.51%.The firm had revenue of $265.78 million during the quarter, compared to the consensus estimate of $265.53 million. During the same period in the previous year, the firm posted $0.71 EPS. Equities analysts anticipate that WesBanco will post 3.24 EPS for the current fiscal year.

Insider Transactions at WesBanco

In related news, Director F Eric Nelson, Jr. sold 752 shares of the company’s stock in a transaction that occurred on 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 available at the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Trading of WesBanco

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of WesBanco by 52.2% in the 1st quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider’s stock worth $1,858,000 after buying an additional 20,585 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in WesBanco by 56.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider’s stock valued at $1,582,000 after acquiring an additional 18,347 shares during the period. Jones Financial Companies Lllp increased its stake in WesBanco by 1,553.3% during the first quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,895 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of WesBanco by 179.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock worth $47,779,000 after purchasing an additional 991,584 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of WesBanco by 60.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider’s stock worth $6,704,000 after purchasing an additional 81,319 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

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.