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WSBC

WesBanco

$44.25

1.24 (2.88%)

, FFKT

Farmers Capital Bank

$42.40

0.45 (1.07%)

17:06
04/19/18
04/19
17:06
04/19/18
17:06

Farmers Capital Bank to merge into WesBanco

WesBanco (WSBC) and Farmers Capital Bank (FFKT) jointly announced that they have executed a definitive agreement and plan of merger providing for the merger of Farmers with and into WesBanco. James Gardill, chairman, and Todd Clossin, president and CEO, of WesBanco and R. Terry Bennett, chairman of the board, and Lloyd Hillard, Jr., president & CEO, of Farmers, made the joint announcement.Under the terms of the agreement and plan of merger, which has been unanimously approved by the boards of directors of both companies, WesBanco will exchange a combination of its common stock and cash for Farmers common stock. Farmers shareholders will be entitled to receive 1.053 shares of WesBanco common stock and cash in the amount of $5.00 per share for each share of Farmers common stock for a total value of approximately $378.2M in aggregate based on WesBanco's market close price of $43.03 on April 18. The merger is expected to qualify as a tax-free reorganization. The transaction values Farmers at a price to March 31, tangible book value per share of 195%, and a price to mean analyst estimated earnings per share of 17.8 times. Excluding certain one-time merger charges, the transaction is anticipated to be approximately 3% accretive to earnings in 2019, and approximately 5% accretive to earnings in 2020 once anticipated cost savings are fully phased-in. Estimated tangible book value dilution at closing of approximately 2.1% is expected to be earned back in approximately 2.4 years using the "cross-over" method, including estimated pre-tax merger-related charges of $22.3M. The acquisition is subject to the approvals of the appropriate regulatory authorities and the approval by the shareholders of Farmers. It is expected that the transaction should be completed during the second half of 2018.

WSBC

WesBanco

$44.25

1.24 (2.88%)

FFKT

Farmers Capital Bank

$42.40

0.45 (1.07%)

  • 02

    May

  • 12

    Sep

  • 24

    Sep

WSBC WesBanco
$44.25

1.24 (2.88%)

06/02/17
DADA
06/02/17
UPGRADE
Target $43
DADA
Buy
WesBanco upgraded to Buy from Neutral at DA Davidson
DA Davidson analyst Russell Gunther upgraded WesBanco to Buy citing valuation with the shares down 12% year-to-date. The discounted valuation is unwarranted given the company's return profile and catalysts, Gunther tells investors in a research note. He has a $43 price target for the shares.
10/20/17
DADA
10/20/17
NO CHANGE
Target $47
DADA
Buy
WesBanco price target raised to $47 from $44 at DA Davidson
DA Davidson analyst Russell Gunther raised his price target on WesBanco to $47 and maintained a Buy rating despite the Q3 EPS miss. Gunther says the bank's $10B asset threshold will produce a loan portfolio quality remix given increased selectivity and heightened focus on risk-adjusted returns, adding that the stock offers discounted valuation of about 10% relative to regional peers.
10/20/17
SDLR
10/20/17
DOWNGRADE
Target $44
SDLR
Hold
WesBanco downgraded to Hold from Buy at Sandler O'Neill
Sandler O'Neill analyst Casey Whitman downgraded WesBanco to Hold citing valuation with the shares approaching his price target of $44.
12/21/17
DADA
12/21/17
NO CHANGE
Target $48
DADA
Buy
WesBanco shares attractive at current levels, says DA Davidson
DA Davidson analyst Russell Gunther views current levels as an attractive entry point for shares of WesBanco. The analyst raised his price target for the stock to $48 from $47 and reiterates a Buy rating on the name. He believes the WesBanco's "accretive crossing" of $10B in assets is underappreciated.
FFKT Farmers Capital Bank
$42.40

0.45 (1.07%)

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