WesBanco (WSBC) Receives Hold Rating from Boenning Scattergood

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

Several other research firms also recently weighed in on WSBC. BidaskClub upgraded shares of WesBanco from a strong sell rating to a sell rating in a research report on Thursday, February 28th. Zacks Investment Research downgraded shares of WesBanco from a hold rating to a sell rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $44.67.

WSBC opened at $40.97 on Wednesday. WesBanco has a twelve month low of $34.14 and a twelve month high of $51.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $2.25 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.26 and a beta of 1.07.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.02). WesBanco had a return on equity of 9.20% and a net margin of 27.77%. The company had revenue of $126.13 million for the quarter, compared to analyst estimates of $127.68 million. During the same quarter last year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 29.7% on a year-over-year basis. On average, sell-side analysts expect that WesBanco will post 3.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.31 dividend. This is an increase from WesBanco’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 3.03%. WesBanco’s dividend payout ratio is presently 38.63%.

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

Several institutional investors have recently bought and sold shares of WSBC. Public Employees Retirement System of Ohio boosted its position in shares of WesBanco by 52.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 727 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 250 shares during the period. Advisory Services Network LLC boosted its position in shares of WesBanco by 55.8% during the 4th quarter. Advisory Services Network LLC now owns 765 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 274 shares during the period. Bank of Montreal Can boosted its position in shares of WesBanco by 7.4% during the 4th quarter. Bank of Montreal Can now owns 5,374 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 372 shares during the period. LPL Financial LLC boosted its position in shares of WesBanco by 4.6% during the 4th quarter. LPL Financial LLC now owns 10,770 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 475 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of WesBanco by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 14,773 shares of the financial services provider’s stock worth $542,000 after purchasing an additional 576 shares during the period. 58.71% of the stock is owned by institutional investors and hedge funds.

About WesBanco

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.

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