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

WesBanco (NASDAQ:WSBC) announced its earnings results on Wednesday. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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%. During the same period in the previous year, the company posted $0.59 EPS.

WesBanco Price Performance

Shares of WesBanco stock traded down $0.40 during trading on Thursday, reaching $30.36. 462,063 shares of the stock traded hands, compared to its average volume of 236,979. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 14.25 and a beta of 0.82. The business has a fifty day simple moving average of $30.62 and a two-hundred day simple moving average of $29.29. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.94. WesBanco has a 52-week low of $23.00 and a 52-week high of $34.85.

WesBanco Announces Dividend

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

Insider Activity

In other news, EVP Michael L. Perkins sold 5,363 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total transaction of $161,908.97. Following the completion of the transaction, the executive vice president now owns 46,817 shares in the company, valued at $1,413,405.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Hovde Group raised their target price on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. DA Davidson raised their target price on WesBanco from $35.00 to $42.00 and gave the stock 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 stock a “market perform” rating in a report on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $35.00 price target on shares of WesBanco in a research note on Monday, September 9th. Finally, Stephens increased 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.