WesBanco (NASDAQ:WSBC) Announces Quarterly Earnings Results

WesBanco (NASDAQ:WSBC) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.54 earnings per share 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 quarter last year, the firm posted $0.59 EPS.

WesBanco Stock Down 1.3 %

WesBanco stock traded down $0.40 during trading on Thursday, reaching $30.36. 462,063 shares of the company’s stock were exchanged, compared to its average volume of 236,979. WesBanco has a 52-week low of $23.00 and a 52-week high of $34.85. The firm has a market cap 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. The company’s 50-day moving average is $30.62 and its two-hundred day moving average is $29.29.

WesBanco Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at WesBanco

In other news, EVP Michael L. Perkins sold 5,363 shares of the company’s 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 sale, the executive vice president now owns 46,817 shares of the company’s stock, valued at $1,413,405.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.44% of the stock is currently owned by corporate insiders.

About WesBanco

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.