FY2017 Earnings Estimate for WesBanco, Inc. (WSBC) Issued By FBR & Co
WesBanco, Inc. (NASDAQ:WSBC) – Equities researchers at FBR & Co reduced their FY2017 earnings per share estimates for WesBanco in a note issued to investors on Thursday. FBR & Co analyst S. Moss now anticipates that the financial services provider will earn $2.40 per share for the year, down from their previous forecast of $2.43. FBR & Co currently has a “Hold” rating and a $40.00 target price on the stock. FBR & Co also issued estimates for WesBanco’s Q4 2017 earnings at $0.61 EPS, Q1 2018 earnings at $0.60 EPS, Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.61 EPS, Q4 2018 earnings at $0.63 EPS, FY2018 earnings at $2.45 EPS, Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.66 EPS and FY2019 earnings at $2.60 EPS.
WSBC has been the subject of several other reports. BidaskClub cut shares of WesBanco from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $41.00 price target on shares of WesBanco in a research note on Tuesday, October 3rd. Sandler O’Neill lowered shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Friday. DA Davidson set a $47.00 price target on shares of WesBanco and gave the stock a “buy” rating in a research note on Friday. They noted that the move was a valuation call. Finally, Boenning Scattergood reiterated a “hold” rating on shares of WesBanco in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. WesBanco presently has an average rating of “Hold” and a consensus price target of $42.00.
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Shares of WesBanco (NASDAQ WSBC) opened at 40.41 on Monday. WesBanco has a 52-week low of $32.06 and a 52-week high of $44.19. The stock’s 50 day moving average is $39.92 and its 200 day moving average is $38.89. The company has a market capitalization of $1.78 billion, a P/E ratio of 18.46 and a beta of 0.96.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.03). The company had revenue of $95.15 million during the quarter, compared to the consensus estimate of $98.37 million. WesBanco had a net margin of 24.73% and a return on equity of 7.71%. During the same period last year, the firm posted $0.60 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a $0.26 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.57%. WesBanco’s payout ratio is 44.44%.
In related news, EVP Brent E. Richmond sold 1,440 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $36.83, for a total value of $53,035.20. Following the completion of the transaction, the executive vice president now directly owns 22,701 shares in the company, valued at approximately $836,077.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.05% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new position in shares of WesBanco in the 1st quarter worth about $132,000. Smithfield Trust Co. bought a new position in shares of WesBanco in the 2nd quarter worth about $138,000. Sei Investments Co. increased its stake in shares of WesBanco by 4,236.6% in the 2nd quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock worth $174,000 after acquiring an additional 4,279 shares in the last quarter. Amalgamated Bank bought a new position in shares of WesBanco in the 2nd quarter worth about $211,000. Finally, Victory Capital Management Inc. increased its stake in shares of WesBanco by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 801 shares in the last quarter. Institutional investors own 57.72% of the company’s stock.
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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