WesBanco, Inc. (NASDAQ:WSBC) to Post FY2017 Earnings of $2.48 Per Share, Boenning Scattergood Forecasts
WesBanco, Inc. (NASDAQ:WSBC) – Boenning Scattergood cut their FY2017 earnings per share estimates for WesBanco in a report issued on Thursday. Boenning Scattergood analyst M. Schultheis now forecasts that the financial services provider will post earnings of $2.48 per share for the year, down from their prior forecast of $2.53.
A number of other research firms have also weighed in on WSBC. Zacks Investment Research lowered shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. FBR & Co decreased their price target on shares of WesBanco from $44.00 to $40.00 and set a “mkt perform” rating for the company in a research report on Friday. Keefe, Bruyette & Woods set a $42.00 price target on shares of WesBanco and gave the company a “hold” rating in a research report on Monday, April 10th. Sandler O’Neill raised shares of WesBanco from a “hold” rating to a “buy” rating in a research report on Wednesday, March 29th. Finally, BidaskClub lowered shares of WesBanco from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $41.60.
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WesBanco (NASDAQ WSBC) opened at 37.87 on Monday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 17.30 and a beta of 0.94. WesBanco has a 52 week low of $30.46 and a 52 week high of $44.19. The company has a 50 day moving average of $39.34 and a 200 day moving average of $39.64.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The business had revenue of $94.26 million during the quarter, compared to the consensus estimate of $96.70 million. WesBanco had a return on equity of 7.59% and a net margin of 23.44%. During the same quarter in the previous year, the business earned $0.58 earnings per share.
Several institutional investors have recently bought and sold shares of the stock. Strs Ohio increased its position in shares of WesBanco by 3.1% in the first quarter. Strs Ohio now owns 27,000 shares of the financial services provider’s stock valued at $1,028,000 after buying an additional 800 shares during the period. State Street Corp increased its position in shares of WesBanco by 7.3% in the fourth quarter. State Street Corp now owns 779,794 shares of the financial services provider’s stock valued at $33,581,000 after buying an additional 53,338 shares during the period. Airain ltd acquired a new position in shares of WesBanco during the first quarter valued at $292,000. FMR LLC increased its position in shares of WesBanco by 14.5% in the fourth quarter. FMR LLC now owns 297,300 shares of the financial services provider’s stock valued at $12,802,000 after buying an additional 37,700 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of WesBanco by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 273,243 shares of the financial services provider’s stock valued at $10,413,000 after buying an additional 17,004 shares during the period. Hedge funds and other institutional investors own 56.95% of the company’s stock.
In other news, EVP Gregory A. Dugan sold 8,000 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $40.72, for a total transaction of $325,760.00. Following the transaction, the executive vice president now owns 13,051 shares in the company, valued at $531,436.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.05% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 9th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.75%. WesBanco’s dividend payout ratio (DPR) is currently 47.71%.
WesBanco Company Profile
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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