WesBanco (NASDAQ:WSBC) Releases Earnings Results, Beats Estimates By $0.01 EPS

WesBanco (NASDAQ:WSBCGet Rating) issued its earnings results on Tuesday. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01, Briefing.com reports. The business had revenue of $176.69 million during the quarter, compared to analyst estimates of $159.97 million. WesBanco had a return on equity of 8.21% and a net margin of 32.33%. During the same period in the prior year, the company posted $0.82 earnings per share.

WesBanco Price Performance

WesBanco stock traded up $0.33 during mid-day trading on Wednesday, hitting $36.20. 3,006 shares of the company were exchanged, compared to its average volume of 136,013. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $37.96 and a 200 day moving average of $36.41. WesBanco has a 1-year low of $29.50 and a 1-year high of $41.37. The company has a market capitalization of $2.14 billion, a PE ratio of 11.88 and a beta of 0.91.

WesBanco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th were paid a dividend of $0.35 per share. This is a positive change from WesBanco’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Thursday, December 8th. WesBanco’s dividend payout ratio is currently 46.36%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WSBC. Raymond James restated a “market perform” rating on shares of WesBanco in a research note on Thursday, December 22nd. Piper Sandler assumed coverage on WesBanco in a research note on Monday, December 5th. They issued a “neutral” rating and a $41.00 target price for the company. Finally, StockNews.com assumed coverage on WesBanco in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, WesBanco presently has a consensus rating of “Hold” and an average target price of $35.67.

Insiders Place Their Bets

In other news, EVP Brent E. Richmond sold 3,000 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $40.36, for a total transaction of $121,080.00. Following the sale, the executive vice president now owns 26,330 shares in the company, valued at $1,062,678.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Brent E. Richmond sold 3,000 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $40.36, for a total transaction of $121,080.00. Following the sale, the executive vice president now owns 26,330 shares in the company, valued at $1,062,678.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brent E. Richmond sold 5,372 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $39.89, for a total value of $214,289.08. Following the sale, the executive vice president now owns 26,330 shares in the company, valued at approximately $1,050,303.70. The disclosure for this sale can be found here. Insiders sold 19,384 shares of company stock worth $785,437 over the last three months. 3.15% of the stock is currently owned by corporate insiders.

Institutional Trading of WesBanco

Several large investors have recently made changes to their positions in the business. Ancora Advisors LLC bought a new position in WesBanco in the first quarter valued at about $43,000. Global Wealth Management Investment Advisory Inc. bought a new position in WesBanco in the first quarter valued at about $94,000. Captrust Financial Advisors boosted its holdings in WesBanco by 144.6% in the first quarter. Captrust Financial Advisors now owns 3,442 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 2,035 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in WesBanco by 13.3% in the first quarter. Great West Life Assurance Co. Can now owns 5,133 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 602 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in WesBanco in the first quarter valued at about $237,000. Institutional investors own 58.78% of the company’s stock.

About WesBanco

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WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit.

See Also

Earnings History for WesBanco (NASDAQ:WSBC)

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