Sector Update: Financial Stocks Gain Late Afternoon
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 26 2024
0mins
Source: NASDAQ.COM
Financial Market Performance: Financial stocks saw gains with the NYSE Financial Index up 1.6% and Bitcoin rising 3% to $67,739, while the Philadelphia Housing Index increased by 3.4%.
Corporate Developments and Regulatory News: JPMorgan Chase launched a generative AI tool for research analysis, and the SEC charged Andrew Left for a $20 million fraud scheme; meanwhile, Kinsale Capital's shares surged 17% following strong Q2 earnings.
Analyst Views on WSBC
Wall Street analysts forecast WSBC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WSBC is 38.00 USD with a low forecast of 36.00 USD and a high forecast of 40.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 33.570
Low
36.00
Averages
38.00
High
40.00
Current: 33.570
Low
36.00
Averages
38.00
High
40.00
About WSBC
Wesbanco, Inc. is a diversified multi-state bank holding company. The Company offers a full range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. Its segments include community banking and trust and investment services. The community banking segment offers services traditionally offered 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. The trust and investment services segment offers trust services as well as various alternative investment products, including mutual funds. It serves customers through more than 250 financial centers and loan production offices in Indiana, Kentucky, Maryland, Michigan, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
