FY2017 EPS Estimates for WesBanco, Inc. (WSBC) Cut by Boenning Scattergood
WesBanco, Inc. (NASDAQ:WSBC) – Equities researchers at Boenning Scattergood reduced their FY2017 earnings estimates for shares of WesBanco in a research report issued on Friday. Boenning Scattergood analyst M. Schultheis now expects that the financial services provider will post earnings per share of $2.43 for the year, down from their previous estimate of $2.48. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for WesBanco’s Q4 2017 earnings at $0.64 EPS, Q1 2018 earnings at $0.65 EPS, Q2 2018 earnings at $0.66 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.69 EPS and FY2019 earnings at $2.79 EPS.
Several other equities analysts also recently weighed in on the stock. BidaskClub raised shares of WesBanco from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. FBR & Co lowered their price target on shares of WesBanco from $44.00 to $40.00 and set a “mkt perform” rating on the stock in a report on Friday, July 21st. Zacks Investment Research cut shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $41.00 price objective on shares of WesBanco in a research report on Tuesday, October 3rd. Finally, DA Davidson set a $47.00 price objective on shares of WesBanco and gave the company a “buy” rating in a research report on Friday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. WesBanco currently has a consensus rating of “Hold” and a consensus target price of $42.00.
WesBanco (WSBC) opened at 40.41 on Monday. The stock has a 50 day moving average of $39.92 and a 200-day moving average of $38.89. WesBanco has a one year low of $32.06 and a one year high of $44.19. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 18.46 and a beta of 0.96.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.60 EPS for the quarter, missing the Zacks’ 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 return on equity of 7.71% and a net margin of 24.73%. During the same period in the previous year, the company earned $0.60 EPS.
Several institutional investors have recently added to or reduced their stakes in WSBC. Ameritas Investment Partners Inc. bought a new stake in shares of WesBanco during the first quarter valued at approximately $132,000. Smithfield Trust Co. bought a new stake in shares of WesBanco during the second quarter valued at approximately $138,000. Sei Investments Co. raised its position in shares of WesBanco by 4,236.6% during the second quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock valued at $174,000 after buying an additional 4,279 shares during the last quarter. Amalgamated Bank bought a new stake in shares of WesBanco during the second quarter valued at approximately $211,000. Finally, Victory Capital Management Inc. raised its position in shares of WesBanco by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after buying an additional 801 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.
In other news, EVP Brent E. Richmond sold 1,440 shares of WesBanco stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $36.83, for a total transaction of $53,035.20. Following the sale, the executive vice president now owns 22,701 shares in the company, valued at $836,077.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.05% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Thursday, September 7th. WesBanco’s payout ratio is currently 44.44%.
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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