WesBanco (NASDAQ:WSBC)‘s stock had its “hold” rating restated by analysts at Boenning Scattergood in a report issued on Friday, September 14th. Boenning Scattergood also issued estimates for WesBanco’s Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $3.13 EPS, Q1 2019 earnings at $0.82 EPS, Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.78 EPS, Q4 2019 earnings at $0.85 EPS, FY2019 earnings at $3.30 EPS and FY2020 earnings at $3.46 EPS.
The analysts wrote, “Well-Positioned for Organic Opportunities. Shift: Maintain Neutral – We believe WesBanco is poised to experience an extended period of revenue growth combined with disciplined expense control. In the near-term, a rebound in the economies of Cincinnati and Columbus, OH – as well as a recently enhanced presence in Pittsburgh, PA and Louisville, KY – are fueling a strategic shift to a commercial-oriented loan book while dampening aggregate loan growth. In the long-term, the company’s geographic position gives it prime access to growth for deposits, wealth management income and, to a lesser extent, loans arising from the Marcellus/Utica Shale gas exploration/extraction.””
Several other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of WesBanco from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. ValuEngine downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Zacks Investment Research raised shares of WesBanco from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Thursday, July 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $48.00 target price on shares of WesBanco in a report on Wednesday, July 25th. Finally, B. Riley lifted their target price on shares of WesBanco from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, June 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. WesBanco has a consensus rating of “Hold” and a consensus price target of $47.40.
Shares of NASDAQ WSBC traded down $0.66 during mid-day trading on Friday, reaching $43.14. The company had a trading volume of 124,995 shares, compared to its average volume of 131,320. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. WesBanco has a 52-week low of $38.09 and a 52-week high of $51.12.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Monday, July 23rd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. WesBanco had a net margin of 24.38% and a return on equity of 8.85%. The company had revenue of $105.76 million for the quarter, compared to the consensus estimate of $103.37 million. During the same period last year, the firm posted $0.60 EPS. As a group, sell-side analysts forecast that WesBanco will post 3.09 earnings per share for the current year.
In related news, Director Charlotte A. Zuschlag sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $49.50, for a total value of $495,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert H. Young sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $50.71, for a total transaction of $101,420.00. Following the completion of the sale, the chief financial officer now owns 18,533 shares of the company’s stock, valued at approximately $939,808.43. The disclosure for this sale can be found here. Insiders sold 25,256 shares of company stock valued at $1,247,709 in the last quarter. Company insiders own 4.14% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in WesBanco by 5.0% during the first quarter. JPMorgan Chase & Co. now owns 25,369 shares of the financial services provider’s stock worth $1,074,000 after acquiring an additional 1,206 shares during the last quarter. Victory Capital Management Inc. raised its position in WesBanco by 15.9% during the second quarter. Victory Capital Management Inc. now owns 10,372 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 1,423 shares during the last quarter. Barclays PLC raised its position in WesBanco by 31.2% during the first quarter. Barclays PLC now owns 8,766 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 2,087 shares during the last quarter. Bank of America Corp DE raised its position in WesBanco by 0.5% during the second quarter. Bank of America Corp DE now owns 461,186 shares of the financial services provider’s stock worth $20,772,000 after acquiring an additional 2,152 shares during the last quarter. Finally, Sei Investments Co. raised its position in WesBanco by 2,054.2% during the first quarter. Sei Investments Co. now owns 2,542 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 2,424 shares during the last quarter. Hedge funds and other institutional investors own 59.92% of the company’s stock.
WesBanco Company Profile
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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