WesBanco (NASDAQ:WSBC) Releases Earnings Results, Beats Expectations By $0.03 EPS

WesBanco (NASDAQ:WSBC) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03, Briefing.com reports. The firm had revenue of $243.34 million for the quarter, compared to the consensus estimate of $152.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.90%. During the same period last year, the firm earned $0.59 EPS.

WesBanco Price Performance

WSBC stock opened at $30.29 on Friday. The company has a fifty day simple moving average of $30.61 and a two-hundred day simple moving average of $29.30. WesBanco has a 52 week low of $23.04 and a 52 week high of $34.85. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $2.03 billion, a P/E ratio of 14.22 and a beta of 0.82.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date was Friday, September 6th. WesBanco’s payout ratio is 67.61%.

Insider Transactions at WesBanco

In related news, EVP Michael L. Perkins sold 5,363 shares of WesBanco stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total value of $161,908.97. Following the completion of the transaction, the executive vice president now owns 46,817 shares in the company, valued at approximately $1,413,405.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised their price target on WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. DA Davidson boosted their price target on WesBanco from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Hovde Group increased their price objective on shares of WesBanco from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Stephens lifted their price objective on shares of WesBanco from $27.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a research report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.71.

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.