Notable Price Action: What’s Next for WesBanco Inc After Reaching 52-Week High?

Notable Price Action: What's Next for WesBanco Inc After Reaching 52 Week High?

The stock of WesBanco Inc (NASDAQ:WSBC) hit a new 52-week high and has $51.43 target or 31.00% above today’s $39.26 share price. The 6 months bullish chart indicates low risk for the $1.76B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $51.43 price target is reached, the company will be worth $545.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 59,155 shares traded hands. WesBanco Inc (NASDAQ:WSBC) has risen 24.42% since April 19, 2016 and is uptrending. It has outperformed by 20.56% the S&P500.

WesBanco Inc (NASDAQ:WSBC) Ratings Coverage

Out of 4 analysts covering Wesbanco Inc. (NASDAQ:WSBC), 0 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 0 are positive. Wesbanco Inc. has been the topic of 9 analyst reports since July 23, 2015 according to StockzIntelligence Inc. FBR Capital maintained the shares of WSBC in a report on Thursday, January 28 with “Mkt Perform” rating. The rating was downgraded by FBR Capital on Thursday, July 23 to “Market Perform”. The firm earned “Neutral” rating on Tuesday, August 11 by Macquarie Research. The firm has “Neutral” rating given on Thursday, April 21 by Boenning & Scattergood. FBR Capital maintained the stock with “Mkt Perform” rating in Thursday, October 22 report. The rating was upgraded by Zacks on Friday, September 4 to “Hold”. As per Thursday, October 27, the company rating was maintained by FBR Capital.

According to Zacks Investment Research, “WESBANCO, INC. is a multi-bank holding company whose subsidiaries are engaged in general banking business.”

Insitutional Activity: The institutional sentiment is 1.43 in 2016 Q2. Its the same as in 2016Q1. The ratio has no change, as 7 funds sold all WesBanco Inc shares owned while 37 reduced positions. only 20 funds bought stakes while 43 increased positions. They now own 24.82 million shares or 14.28% more from 21.72 million shares in 2016Q1.
Us State Bank De accumulated 0.01% or 104,666 shares. Wells Fargo & Mn last reported 174,349 shares in the company. Royal Bancshares Of Canada last reported 0% of its portfolio in the stock. Deutsche State Bank Ag has 32,945 shares for 0% of their US portfolio. Voya Ltd Liability accumulated 20,494 shares or 0% of the stock. Glenmede Trust Na has 493,951 shares for 0.09% of their US portfolio. Moreover, Earnest Partners Ltd Company has 0.54% invested in WesBanco Inc (NASDAQ:WSBC) for 1.61M shares. Pub Employees Retirement Association Of Colorado accumulated 0% or 13,545 shares. Tower Capital Ltd Liability Corp (Trc) owns 1,027 shares or 0% of their US portfolio. Thompson Siegel Walmsley Lc reported 600 shares or 0% of all its holdings. Blackrock Invest Management Ltd Co holds 0.01% or 147,317 shares in its portfolio. Parametric Port Assocs Limited Liability Company reported 20,691 shares or 0% of all its holdings. Barclays Public Ltd holds 148 shares or 0% of its portfolio. Moreover, Great West Life Assurance Can has 0% invested in WesBanco Inc (NASDAQ:WSBC) for 3,968 shares. Huntington Bancorp has invested 0% of its portfolio in WesBanco Inc (NASDAQ:WSBC).

More recent WesBanco Inc (NASDAQ:WSBC) news were published by: Prnewswire.com which released: “WesBanco, Inc. Consummates Merger with Your Community Bankshares, Inc. and …” on September 09, 2016. Also Prnewswire.com published the news titled: “WesBanco, Inc. Receives Regulatory Approvals of Its Merger with Your Community …” on August 22, 2016. Prnewswire.com‘s news article titled: “WesBanco Announces November Investor Conference Schedule” with publication date: November 01, 2016 was also an interesting one.

WSBC Company Profile

WesBanco, Inc. (WesBanco), incorporated on September 9, 1968, is a bank holding company. The Firm offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two divisions: 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.

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