WesBanco Inc (WSBC) is Downgraded by Macquarie to Neutral

WesBanco Inc (WSBC) was Downgraded by Macquarie to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Macquarie advised their investors in a research report released on Nov 22, 2016.

Many Wall Street Analysts have commented on WesBanco Inc. Company shares were Reiterated by FBR & Co. on Oct 27, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 33 from a previous price target of $32 .

On the company’s financial health, WesBanco Inc reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $0.57.Analysts expectations of $ 81.32.During the same quarter in the previous year, the company posted $0.58 EPS.

WesBanco Inc opened for trading at $38.55 and hit $39.5 on the upside on Monday, eventually ending the session at $39.49, with a gain of 2.09% or 0.81 points. The heightened volatility saw the trading volume jump to 1,11,691 shares. Company has a market cap of $1,732 M.

Investors should note that on Nov 16, 2016, WesBanco Inc announced a cash dividend of $0.2400. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Jan 2, 2017.

In a different news, on Nov 21, 2016, Michael L Perkins (EVP/Chief Risk & Admin Officer) sold 2,000 shares at $39.45 per share price. According to the SEC, on Nov 17, 2016, Brent E Richmond (EVP – Treasury) sold 9,500 shares at $38.74 per share price. On Nov 17, 2016, Robert H Young (EVP – Chief Financial Officer) sold 2,000 shares at $37.96 per share price, according to the Form-4 filing with the securities and exchange commission.

WesBanco Inc. (WesBanco) is a bank holding company. The Company offers a range of financial services including retail banking corporate banking personal and corporate trust services brokerage services mortgage banking and insurance. WesBanco offers these services through two segments: community banking which offers services by full-service commercial banks including commercial demand individual demand and time deposit accounts as well as commercial mortgage and individual installment loans and certain non-traditional offerings such as insurance and securities brokerage services and trust and investment services which offers trust services as well as various alternative investment products including mutual funds. WesBanco Bank also offers trust and investment services and various alternative investment products including mutual funds and annuities.

WesBanco Inc

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