WesBanco (WSBC) Stock Rating Reaffirmed by Boenning Scattergood

Boenning Scattergood reaffirmed their hold rating on shares of WesBanco (NASDAQ:WSBC) in a research report sent to investors on Wednesday, TipRanks reports. Boenning Scattergood also issued estimates for WesBanco’s Q2 2019 earnings at $0.82 EPS, Q3 2019 earnings at $0.83 EPS, Q4 2019 earnings at $0.82 EPS, FY2019 earnings at $3.25 EPS and FY2020 earnings at $3.38 EPS.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of WesBanco from a hold rating to a sell rating in a research report on Friday, April 12th. BidaskClub upgraded shares of WesBanco from a strong sell rating to a sell rating in a research report on Saturday, March 30th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. WesBanco has an average rating of Hold and a consensus target price of $44.67.

Shares of NASDAQ:WSBC opened at $39.95 on Wednesday. The firm has a market capitalization of $2.18 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. WesBanco has a 52 week low of $34.14 and a 52 week high of $51.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.86 and a current ratio of 0.86.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). The business had revenue of $126.13 million during the quarter, compared to analysts’ expectations of $127.68 million. WesBanco had a return on equity of 9.20% and a net margin of 27.77%. WesBanco’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. As a group, equities analysts forecast that WesBanco will post 3.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.31 dividend. This is a boost from WesBanco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.10%. WesBanco’s payout ratio is presently 38.63%.

In other news, Director Denise H. Knouse-Snyder acquired 675 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were purchased at an average price of $42.36 per share, for a total transaction of $28,593.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $84,720. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kerry M. Stemler acquired 1,343 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was purchased at an average price of $37.66 per share, for a total transaction of $50,577.38. Following the transaction, the director now directly owns 96,004 shares of the company’s stock, valued at approximately $3,615,510.64. The disclosure for this purchase can be found here. 3.24% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in WSBC. Vanguard Group Inc increased its position in shares of WesBanco by 20.2% during the third quarter. Vanguard Group Inc now owns 4,763,213 shares of the financial services provider’s stock valued at $212,344,000 after buying an additional 798,937 shares during the period. Vanguard Group Inc. increased its position in shares of WesBanco by 20.2% during the third quarter. Vanguard Group Inc. now owns 4,763,213 shares of the financial services provider’s stock valued at $212,344,000 after buying an additional 798,937 shares during the period. Norges Bank purchased a new position in shares of WesBanco during the fourth quarter valued at about $27,101,000. BlackRock Inc. increased its position in shares of WesBanco by 20.8% during the third quarter. BlackRock Inc. now owns 3,692,352 shares of the financial services provider’s stock valued at $164,605,000 after buying an additional 634,700 shares during the period. Finally, Morgan Stanley increased its position in shares of WesBanco by 84.8% during the third quarter. Morgan Stanley now owns 189,661 shares of the financial services provider’s stock valued at $8,456,000 after buying an additional 87,035 shares during the period. Hedge funds and other institutional investors own 58.71% of the company’s stock.

WesBanco Company Profile

WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.

Further Reading: Systematic Risk and Investors

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