Boenning & Scattergood analyst Matthew Schultheis maintained a Hold rating on WesBanco Inc (NASDAQ: WSBC) today. The company’s shares closed yesterday at $39.47, close to its 52-week low of $38.09.
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 (87.0%), 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 2.7% and a 45.1% success rate. Schultheis covers the Financial sector, focusing on stocks such as Orrstown Financial Services Inc, Citizens Financial Services Inc, and Fulton Financial Corp.
The word on The Street in general, suggests a Hold analyst consensus rating for WesBanco Inc with a $49.50 average price target.
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WesBanco Inc’s market cap is currently $1.84B and has a P/E ratio of 16.24. The company has a Price to Book ratio of 1.21.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, 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.
