“We believe WesBanco is poised to experience an extended period of revenue growth combined with disciplined expense control – though this may not be a straight line. 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, should continue to fuel mid- single digit organic loan growth. Recent hires should also help boost the company’s presence in key Ohio markets. In the long-term, the company’s geographic position gives it prime access to growth for deposits, wealth management income, and loans and deposits arising from the Marcellus/Utica Shale gas exploration/extraction – enhanced by the new administration’s more aggressive stance on energy. The shares trade at a discount on both forward P/E and tangible book relative to peers (2018 P/E: 15.0x vs. 15.9x, TBV: 2.2x vs. 2.3x). At present, we do not find the discount large enough to get constructive in the stock.”,” Boenning Scattergood’s analyst commented.
A number of other equities research analysts also recently issued reports on WSBC. Zacks Investment Research raised WesBanco from a hold rating to a buy rating and set a $46.00 price target on the stock in a research report on Wednesday, December 27th. DA Davidson set a $48.00 price target on WesBanco and gave the stock a buy rating in a research report on Thursday, December 21st. Keefe, Bruyette & Woods reissued a hold rating and set a $41.00 price target on shares of WesBanco in a research report on Tuesday, October 3rd. Sandler O’Neill downgraded WesBanco from a buy rating to a hold rating in a research report on Friday, October 20th. Finally, B. Riley set a $40.00 price target on WesBanco and gave the stock a hold rating in a research report on Tuesday, November 14th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $43.00.
Shares of WesBanco (NASDAQ:WSBC) traded up $0.26 during trading hours on Tuesday, reaching $40.83. The company had a trading volume of 87,200 shares, compared to its average volume of 117,700. The firm has a market capitalization of $1,786.43, a P/E ratio of 17.45, a P/E/G ratio of 1.49 and a beta of 1.00. WesBanco has a 1-year low of $34.81 and a 1-year high of $43.77. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.85.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.03). The company had revenue of $95.15 million for the quarter, compared to analyst estimates of $98.37 million. WesBanco had a return on equity of 7.66% and a net margin of 24.73%. During the same period in the prior year, the company earned $0.60 EPS. sell-side analysts predict that WesBanco will post 2.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Thursday, December 7th. WesBanco’s dividend payout ratio is presently 44.44%.
In other WesBanco news, Director F Eric Nelson, Jr. sold 12,500 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $42.06, for a total value of $525,750.00. Following the sale, the director now owns 29,717 shares of the company’s stock, valued at approximately $1,249,897.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.05% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. California Public Employees Retirement System boosted its holdings in shares of WesBanco by 5.6% in the 3rd quarter. California Public Employees Retirement System now owns 57,242 shares of the financial services provider’s stock valued at $2,348,000 after purchasing an additional 3,026 shares in the last quarter. Janney Capital Management LLC acquired a new stake in shares of WesBanco in the 3rd quarter valued at $898,000. Earnest Partners LLC boosted its holdings in shares of WesBanco by 8.8% in the 3rd quarter. Earnest Partners LLC now owns 1,641,852 shares of the financial services provider’s stock valued at $67,349,000 after purchasing an additional 132,434 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of WesBanco by 13.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 338,394 shares of the financial services provider’s stock valued at $13,881,000 after purchasing an additional 39,153 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of WesBanco in the 3rd quarter valued at $220,000. 59.11% of the stock is currently owned by hedge funds and other institutional investors.
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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 its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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