WesBanco (NASDAQ:WSBC) released its earnings results on Tuesday. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02), Briefing.com reports. WesBanco had a net margin of 27.77% and a return on equity of 9.20%. The company had revenue of $126.13 million during the quarter, compared to the consensus estimate of $127.68 million. During the same period last year, the firm posted $0.76 EPS. The company’s revenue was up 29.7% on a year-over-year basis.
WSBC opened at $42.18 on Wednesday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.86. WesBanco has a one year low of $34.14 and a one year high of $51.12.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Thursday, March 14th. This is a positive change from WesBanco’s previous quarterly dividend of $0.29. WesBanco’s payout ratio is 38.63%.
A number of equities research analysts have recently weighed in on WSBC shares. Zacks Investment Research lowered WesBanco from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. BidaskClub lowered WesBanco from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.67.
In other WesBanco news, Director Denise H. Knouse-Snyder purchased 675 shares of the stock in a transaction on Thursday, February 21st. The stock was acquired at an average price of $42.36 per share, with a total value of $28,593.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $84,720. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerry M. Stemler purchased 1,343 shares of the stock in a transaction on Friday, March 22nd. The shares were acquired at an average cost of $37.66 per share, with a total value of $50,577.38. Following the transaction, the director now directly owns 96,004 shares in the company, valued at $3,615,510.64. The disclosure for this purchase can be found here. Corporate insiders own 3.24% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its position in shares of WesBanco by 52.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 727 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 250 shares in the last quarter. Executive Wealth Management LLC bought a new position in shares of WesBanco in the 4th quarter worth approximately $27,000. Advisory Services Network LLC raised its position in shares of WesBanco by 55.8% in the 4th quarter. Advisory Services Network LLC now owns 765 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 274 shares in the last quarter. MCF Advisors LLC raised its position in shares of WesBanco by 496.9% in the 4th quarter. MCF Advisors LLC now owns 955 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 795 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in shares of WesBanco in the 4th quarter worth approximately $70,000. 58.71% of the stock is owned by institutional investors and hedge funds.
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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