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

WesBanco (NASDAQ:WSBC) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01, FiscalAI reports. WesBanco had a return on equity of 9.59% and a net margin of 23.70%. The firm had revenue of $272.74 million during the quarter, compared to the consensus estimate of $274.88 million.

WesBanco Stock Down 1.2%

WSBC stock traded down $0.47 during trading on Friday, hitting $38.66. 96,254 shares of the stock traded hands, compared to its average volume of 869,314. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 11.28 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.93. The firm’s 50 day moving average is $39.18 and its two-hundred day moving average is $37.88. WesBanco has a 1 year low of $29.57 and a 1 year high of $43.02.

WesBanco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 4th were paid a $0.38 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.52 dividend on an annualized basis and a yield of 3.9%. WesBanco’s payout ratio is presently 44.19%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $44.00 target price on shares of WesBanco in a report on Monday, September 14th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $42.00 target price on shares of WesBanco in a research report on Thursday, July 23rd. Piper Sandler reduced their price objective on shares of WesBanco from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of WesBanco in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered WesBanco from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $43.60.

Insider Transactions at WesBanco

In related news, Director Denise H. Knouse-Snyder sold 3,070 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $40.89, for a total value of $125,532.30. Following the sale, the director owned 15,035 shares in the company, valued at approximately $614,781.15. This trade represents a 16.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jayson M. Zatta sold 12,500 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $41.80, for a total value of $522,500.00. Following the completion of the transaction, the executive vice president owned 81,082 shares in the company, valued at approximately $3,389,227.60. This trade represents a 13.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 35,195 shares of company stock valued at $1,465,800. Insiders own 2.07% of the company’s stock.

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.