WesBanco (NASDAQ:WSBC) Issues Earnings Results

by · The Markets Daily

WesBanco (NASDAQ:WSBC – Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01, FiscalAI reports. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. The business had revenue of $272.74 million for the quarter, compared to the consensus estimate of $274.88 million.

WesBanco Stock Up 0.1%

WSBC traded up $0.02 during trading on Wednesday, reaching $37.65. The stock had a trading volume of 588,281 shares, compared to its average volume of 870,916. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 10.94 and a beta of 0.69. The stock’s 50 day moving average is $39.35 and its two-hundred day moving average is $37.83. WesBanco has a one year low of $29.57 and a one year high of $43.02.

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were issued a $0.38 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a yield of 4.0%. WesBanco’s dividend payout ratio is 44.19%.

Insider Buying and Selling at WesBanco

In related news, EVP Kimberly L. Griffith sold 6,875 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $41.20, for a total transaction of $283,250.00. Following the sale, the executive vice president owned 15,858 shares of the company’s stock, valued at $653,349.60. The trade was a 30.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jan Pattishall-Krupinski sold 2,500 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $41.91, for a total transaction of $104,775.00. Following the completion of the sale, the executive vice president owned 33,484 shares in the company, valued at approximately $1,403,314.44. This trade represents a 6.95% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 35,195 shares of company stock valued at $1,465,800. Company insiders own 2.07% of the company’s stock.

Wall Street Analyst Weigh In

WSBC has been the subject of several research analyst reports. Wall Street Zen cut shares of WesBanco from a “hold” rating to a “sell” rating in a research report on Saturday. DA Davidson set a $46.00 price target on shares of WesBanco in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of WesBanco in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $42.00 price target on shares of WesBanco in a research note on Thursday, July 23rd. Finally, Raymond James Financial lowered shares of WesBanco from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, WesBanco currently has an average rating of “Hold” and a consensus target price of $43.60.

View Our Latest Research Report on WesBanco

About WesBanco

(Get Free Report)

WesBanco, Inc (NASDAQ: WSBC) is a regional financial services holding company headquartered in Wheeling, West Virginia. Through its principal subsidiary, WesBanco Bank, the company provides banking and financial services to individuals, families, businesses and institutions.

Its offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, personal and corporate credit services, mortgage banking and other traditional banking products.

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