WesBanco (NASDAQ:WSBC) Posts Earnings Results, Beats Expectations By $0.01 EPS

WesBanco (NASDAQ:WSBC) posted its earnings results on Wednesday. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01, FiscalAI reports. The company had revenue of $272.74 million for the quarter, compared to the consensus estimate of $274.88 million. WesBanco had a return on equity of 9.72% and a net margin of 23.35%.

WesBanco Stock Up 0.1%

WesBanco stock opened at $37.65 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.94. WesBanco has a 52-week low of $29.57 and a 52-week high of $43.02. The firm has a 50 day moving average price of $39.26 and a two-hundred day moving average price of $37.85. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 10.94 and a beta of 0.69.

WesBanco Announces Dividend

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

Analyst Ratings Changes

WSBC has been the subject of several analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $42.00 price objective on shares of WesBanco in a report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of WesBanco in a research report on Monday, August 3rd. Wall Street Zen lowered WesBanco from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. DA Davidson set a $46.00 target price on WesBanco in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $44.00 price target on shares of WesBanco in a research report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.60.

Insider Buying and Selling at WesBanco

In other news, EVP Jan Pattishall-Krupinski sold 2,250 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $41.45, for a total transaction of $93,262.50. Following the transaction, the executive vice president owned 33,674 shares in the company, valued at approximately $1,395,787.30. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kimberly L. Griffith sold 6,875 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $41.20, for a total value of $283,250.00. Following the completion of the transaction, the executive vice president owned 15,858 shares in the company, valued at approximately $653,349.60. The trade was a 30.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 35,195 shares of company stock valued at $1,465,800. 2.07% of the stock is owned by corporate insiders.

About WesBanco

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.