WesBanco Inc Expected to Earn FY2019 Earnings of $3.16 Per Share (WSBC)
WesBanco Inc (NASDAQ:WSBC) – Research analysts at Boenning Scattergood raised their FY2019 earnings estimates for shares of WesBanco in a note issued to investors on Wednesday. Boenning Scattergood analyst M. Schultheis now expects that the financial services provider will post earnings per share of $3.16 for the year, up from their prior estimate of $2.79. Boenning Scattergood currently has a “Hold” rating on the stock.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.03). WesBanco had a return on equity of 7.66% and a net margin of 24.73%. The company had revenue of $95.15 million during the quarter, compared to analyst estimates of $98.37 million. During the same quarter in the prior year, the company posted $0.60 earnings per share.
Other equities research analysts have also issued reports about the stock. DA Davidson set a $48.00 target price on shares of WesBanco and gave the stock a “buy” rating in a report on Thursday. BidaskClub lowered shares of WesBanco from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. FBR & Co set a $40.00 target price on shares of WesBanco and gave the stock a “hold” rating in a report on Friday, October 20th. B. Riley set a $40.00 target price on shares of WesBanco and gave the stock a “hold” rating in a report on Tuesday, November 14th. Finally, Zacks Investment Research lowered shares of WesBanco from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $42.25.
WesBanco (NASDAQ WSBC) opened at $41.26 on Friday. The company has a market cap of $1,842.79, a P/E ratio of 17.63, a PEG ratio of 1.74 and a beta of 1.00. WesBanco has a fifty-two week low of $34.81 and a fifty-two week high of $44.19. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.85.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is 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 stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $42.06, for a total value of $525,750.00. Following the sale, the director now directly owns 29,717 shares of the company’s stock, valued at approximately $1,249,897.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.05% of the company’s stock.
Large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its position in shares of WesBanco by 6.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,697 shares of the financial services provider’s stock valued at $146,000 after buying an additional 229 shares during the last quarter. Sei Investments Co. grew its position 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 valued at $174,000 after buying an additional 4,279 shares during the last quarter. Amalgamated Bank purchased a new position in shares of WesBanco in the 2nd quarter valued at $211,000. Victory Capital Management Inc. grew its position 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 valued at $212,000 after buying an additional 801 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of WesBanco in the 3rd quarter valued at $220,000. 59.11% of the stock is currently owned by institutional investors.
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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