In a report released today, Matthew Schultheis from Boenning & Scattergood maintained a Hold rating on WesBanco Inc (WSBC). The company’s shares closed yesterday at $41.58.
Schultheis observed:
“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. WesBanco has a relatively low loan-to-deposit ratio (86.8%), which should help it keep deposit costs low as rates rise.”
According to TipRanks.com, Schultheis is a 3-star analyst with an average return of 2.3% and a 48.8% success rate. Schultheis covers the Financial sector, focusing on stocks such as Orrstown Financial Services Inc, Citizens Financial Services Inc, and Fulton Financial Corp.
Currently, the analyst consensus on WesBanco Inc is a Moderate Buy with an average price target of $45.50.
See today’s analyst top recommended stocks >>
Based on WesBanco Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $43.93 million. In comparison, last year the company had a net profit of $15.9 million.
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.
