Companies in the Financial sector have received a lot of coverage today as analysts weigh in on Lincoln National Corp (NYSE:LNC), WesBanco Inc (NASDAQ:WSBC) and Ladder Capital (NYSE:LADR).
Lincoln National Corp (LNC)
B.Riley FBR analyst Randy Binner reiterated a Hold rating on Lincoln National Corp today and set a price target of $83. The company’s shares opened today at $63.30.
Binner commented:
“Lincoln National Corporation (LNC) reported 3Q18 adjusted operating EPS of $2.34 versus the B. Riley FBR/consensus $2.12/$2.17 estimates. The result was good, with annuity and life results well ahead of our estimate, offset somewhat by higher losses in the other segments. The retirement and group segments performed largely in line with our estimates. The company repurchased $175M shares in the quarter and announced a 12% increase in its dividend. LNC also announced its annual actuarial review with mixed results in each segment but a total adverse charge of only $0.01/sh. We look for further updates on the call around long-term care (LTC) review assumptions and group segment sales, which outperformed for the quarter. On balance, these good operating results should be interpreted positively by investors. We remain Neutral rated with an $83 PT.”
According to TipRanks.com, Binner is a 5-star analyst with an average return of 14.5% and a 67.0% success rate. Binner covers the Financial sector, focusing on stocks such as Health Insurance Innovations, Prudential Financial Inc, and Maiden Holdings Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lincoln National Corp with a $76 average price target, implying a 20.1% upside from current levels. In a report released today, UBS also maintained a Hold rating on the stock with a $67 price target.
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WesBanco Inc (WSBC)
B.Riley FBR analyst Steve Moss reiterated a Hold rating on WesBanco Inc today and set a price target of $45. The company’s shares opened today at $41.10.
Moss noted:
“WesBanco’s (WSBC) franchise continues to improve with acquisitions and the steady flow of core deposits from Marcellus shale, despite tempered loan growth as a result of competition and payoffs. Over the last several years, WSBC’s efficiency ratio has improved from the high 50%s to the mid-50%s and core deposits represent 83% of total deposits as of September 30, 2018, versus 74% in 2014. While WSBC expects loan growth to improve in future periods as payoffs should abate, we believe earnings headwinds are significant as total assets now exceed $10B. This should reduce fee income by ~$0.15 per share annually (5% of EPS). At current prices, WSBC trades at 12.5x our revised 2019, essentially in line with peers, which we believe is fair given earnings headwinds associated with crossing $10B in assets.”
According to TipRanks.com, Moss is a 3-star analyst with an average return of 1.8% and a 45.4% success rate. Moss covers the Financial sector, focusing on stocks such as Seacoast Banking Corporation Of Florida, The Bank of Princeton, and Meta Financial Group.
WesBanco Inc has an analyst consensus of Hold, with a price target consensus of $47.50, representing a 15.6% upside. In a report issued on October 26, Boenning & Scattergood also maintained a Hold rating on the stock.
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Ladder Capital (LADR)
B.Riley FBR analyst Timothy P. Hayes reiterated a Buy rating on Ladder Capital today and set a price target of $17.50. The company’s shares opened today at $17.12, close to its 52-week high of $17.71.
Hayes wrote:
“We reiterate our Buy rating and $17.50 price target on shares of Ladder Capital (LADR) following 3Q18 results that handily beat our estimates and included an increase in the quarterly cash dividend from $0.325 per share to $0.34 per share and a one-time stock dividend of $0.23 per share. $0.59 beat B. Riley FBR and Street estimates of $0.41, but was largely benefited by a $0.26 gain from the sale of an office property portfolio. Also worth noting, the company took an $10M gross impairment charge on a $45M loan securing an office building in Wilmington, DE, that was restructured and extended—an event that we do not view as an indicator of broader credit deterioration.”
According to TipRanks.com, Hayes is a 3-star analyst with an average return of 5.7% and a 75.0% success rate. Hayes covers the Financial sector, focusing on stocks such as Ready Capital Corporation, Saratoga Investment Corp, and Cherry Hill Mortgage.
Currently, the analyst consensus on Ladder Capital is a Moderate Buy with an average price target of $17.75.
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