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RBC Capital Remains a Hold on WesBanco (WSBC)

RBC Capital analyst Jon Arfstrom maintained a Hold rating on WesBanco (WSBCResearch Report) on July 27 and set a price target of $38.00. The company’s shares closed last Friday at $34.12.

According to TipRanks.com, Arfstrom is a 5-star analyst with an average return of 20.4% and a 56.1% success rate. Arfstrom covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Provident Financial Services, and Old National Bancorp Capital.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for WesBanco with a $33.67 average price target.

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Based on WesBanco’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $139 million and net profit of $42.75 million. In comparison, last year the company earned revenue of $149 million and had a net profit of $70.59 million.

Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WSBC in relation to earlier this year. Most recently, in May 2022, Robert H. Young, the Sr. EVP of WSBC sold 2,000 shares for a total of $65,600.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

WesBanco, Inc. is a bank holding company. It offers financial services including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. The company operates through the following segments: Community Banking, and Trust & Investment Services. The Community Banking segment offers services traditionally offered by 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. The Trust & Investment Services segment offers trust services as well as various alternative investment products including mutual funds. The company was founded on April 3, 1870 and is headquartered in Wheeling, WV.

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