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Boenning & Scattergood Sticks to Their Hold Rating for WesBanco Inc (WSBC)


In a report released today, Matthew Schultheis from Boenning & Scattergood maintained a Hold rating on WesBanco Inc (NASDAQ: WSBC). The company’s shares closed yesterday at $46.40.

Schultheis said:

“Well-Positioned for Organic Opportunities. Shift: Maintain Neutral – We believe WesBanco is poised to experience an extended period of revenue growth combined with disciplined expense control. In the near-term, a rebound in the economies of Cincinnati and Columbus, OH – as well as a recently enhanced presence in Pittsburgh, PA and Louisville, KY – are fueling a strategic shift to a commercial-oriented loan book while dampening aggregate loan growth. In the long-term, the company’s geographic position gives it prime access to growth for deposits, wealth management income and, to a lesser extent, loans arising from the Marcellus/Utica Shale gas exploration/extraction.”

According to TipRanks.com, Schultheis is a 4-star analyst with an average return of 7.4% and a 65.7% success rate. Schultheis covers the Financial sector, focusing on stocks such as Orrstown Financial Services Inc, Citizens Financial Services Inc, and Monmouth Real Estate ate.

WesBanco Inc has an analyst consensus of Hold, with a price target consensus of $49.50.

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The company has a one-year high of $51.12 and a one-year low of $37.42. Currently, WesBanco Inc has an average volume of 132.8K.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. Last month, Michael Perkins, the EVP of WSBC sold 3,250 shares for a total of $163,215.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

WesBanco, Inc. is a bank holding company. It offers financial services including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. The company operates through the following segments: Community Banking, and Trust & Investment Services.