WesBanco (NASDAQ:WSBC) Releases Earnings Results

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

WesBanco Stock Down 1.3 %

WSBC opened at $30.36 on Friday. The firm’s fifty day moving average is $30.62 and its 200 day moving average is $29.29. WesBanco has a fifty-two week low of $23.00 and a fifty-two week high of $34.85. The stock 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.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 4.74%. The ex-dividend date was Friday, September 6th. WesBanco’s payout ratio is 67.61%.

Analyst Ratings Changes

WSBC has been the topic of several research analyst reports. DA Davidson boosted their price target on shares of WesBanco from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Hovde Group lifted their price target on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Stephens increased 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. Royal Bank of Canada restated a “sector perform” rating and set a $35.00 price objective on shares of WesBanco in a research note on Monday, September 9th. Finally, Keefe, Bruyette & Woods upped their target price on shares of WesBanco from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $34.71.

Insider Transactions at WesBanco

In other news, EVP Michael L. Perkins sold 5,363 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $30.19, for a total value of $161,908.97. Following the transaction, the executive vice president now owns 46,817 shares of the company’s stock, valued at approximately $1,413,405.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.44% of the company’s stock.

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.