WesBanco (NASDAQ:WSBC) Posts Earnings Results, Beats Estimates By $0.03 EPS

WesBanco (NASDAQ:WSBC) released its earnings results on Wednesday. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03, Briefing.com reports. WesBanco had a return on equity of 5.90% and a net margin of 15.22%. The business had revenue of $243.34 million during the quarter, compared to analysts’ expectations of $152.40 million. During the same quarter last year, the firm posted $0.59 earnings per share.

WesBanco Stock Up 0.1 %

Shares of WesBanco stock traded up $0.03 on Friday, hitting $30.39. The company had a trading volume of 18,321 shares, compared to its average volume of 235,922. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 14.25 and a beta of 0.82. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.94 and a current ratio of 0.94. WesBanco has a 1 year low of $23.04 and a 1 year high of $34.85. The stock has a 50 day moving average of $30.62 and a 200-day moving average of $29.29.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend was Friday, September 6th. WesBanco’s dividend payout ratio is currently 67.61%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WSBC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $35.00 price objective on shares of WesBanco in a research note on Monday, September 9th. DA Davidson upped their price objective on shares of WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Stephens upped their price target on WesBanco from $27.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Finally, Hovde Group raised their price objective on WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, WesBanco has an average rating of “Hold” and an average target price of $34.71.

Insider Buying and Selling

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total transaction of $161,908.97. Following the transaction, the executive vice president now directly owns 46,817 shares in the company, valued at approximately $1,413,405.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.44% of the stock is currently owned by corporate insiders.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.