WesBanco Inc Expected to Post Q3 2018 Earnings of $0.70 Per Share (WSBC)
WesBanco Inc (NASDAQ:WSBC) – Research analysts at DA Davidson boosted their Q3 2018 EPS estimates for WesBanco in a note issued to investors on Thursday. DA Davidson analyst R. Gunther now forecasts that the financial services provider will post earnings per share of $0.70 for the quarter, up from their previous forecast of $0.67. DA Davidson currently has a “Buy” rating and a $48.00 price target on the stock. DA Davidson also issued estimates for WesBanco’s Q4 2018 earnings at $0.71 EPS and FY2018 earnings at $2.70 EPS.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The business had revenue of $95.15 million during the quarter, compared to analyst estimates of $98.37 million. WesBanco had a net margin of 24.73% and a return on equity of 7.66%. During the same quarter last year, the firm posted $0.60 EPS.
WSBC has been the subject of a number of other research reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $41.00 price objective on shares of WesBanco in a report on Tuesday, October 3rd. Sandler O’Neill cut shares of WesBanco from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Zacks Investment Research upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a report on Thursday, November 16th. B. Riley set a $40.00 price objective on shares of WesBanco and gave the company a “hold” rating in a report on Tuesday, November 14th. Finally, Boenning Scattergood restated a “hold” rating on shares of WesBanco in a report on Tuesday, November 14th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $42.25.
Shares of WesBanco (NASDAQ WSBC) traded down $0.43 during mid-day trading on Monday, hitting $40.83. 71,968 shares of the company were exchanged, compared to its average volume of 110,710. 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 firm has a market capitalization of $1,816.81, a PE ratio of 17.45, a P/E/G ratio of 1.71 and a beta of 1.00. WesBanco has a 52-week low of $34.81 and a 52-week high of $44.19.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.55%. The ex-dividend date is Thursday, December 7th. WesBanco’s dividend payout ratio (DPR) is presently 44.44%.
In other WesBanco news, Director F Eric Nelson, Jr. sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $42.06, for a total transaction of $525,750.00. Following the completion of the transaction, the director now owns 29,717 shares in the company, valued at approximately $1,249,897.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.05% of the company’s stock.
Several institutional investors have recently modified their holdings of WSBC. Teachers Advisors LLC boosted its holdings in shares of WesBanco by 386.8% in the 2nd quarter. Teachers Advisors LLC now owns 345,534 shares of the financial services provider’s stock valued at $13,662,000 after buying an additional 274,555 shares in the last quarter. Eaton Vance Management acquired a new position in shares of WesBanco in the 2nd quarter valued at $9,783,000. River Road Asset Management LLC raised its position in WesBanco by 41.4% in the 3rd quarter. River Road Asset Management LLC now owns 537,197 shares of the financial services provider’s stock valued at $22,036,000 after purchasing an additional 157,370 shares during the last quarter. Macquarie Group Ltd. raised its position in WesBanco by 11.1% in the 3rd quarter. Macquarie Group Ltd. now owns 1,525,400 shares of the financial services provider’s stock valued at $62,572,000 after purchasing an additional 152,280 shares during the last quarter. Finally, Earnest Partners LLC raised its position in 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 during the last quarter. Institutional investors and hedge funds own 59.11% 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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