WesBanco (NASDAQ:WSBC) Issues Quarterly Earnings Results

WesBanco (NASDAQ:WSBC) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05, FiscalAI reports. WesBanco had a return on equity of 8.81% and a net margin of 15.51%.

WesBanco Trading Down 1.6%

NASDAQ:WSBC traded down $0.59 during trading hours on Tuesday, hitting $35.73. 733,157 shares of the stock were exchanged, compared to its average volume of 542,701. The company’s 50 day moving average is $35.03 and its two-hundred day moving average is $33.83. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $3.43 billion, a P/E ratio of 17.26 and a beta of 0.74. WesBanco has a twelve month low of $27.92 and a twelve month high of $38.10.

WesBanco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 6th were given a dividend of $0.38 per share. The ex-dividend date was Friday, March 6th. This represents a $1.52 dividend on an annualized basis and a yield of 4.3%. WesBanco’s dividend payout ratio is 73.43%.

Hedge Funds Weigh In On WesBanco

A number of large investors have recently added to or reduced their stakes in WSBC. Mercer Global Advisors Inc. ADV grew its holdings in shares of WesBanco by 3.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,341 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 390 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in WesBanco during the fourth quarter worth approximately $439,000. Empowered Funds LLC lifted its position in WesBanco by 8.1% during the fourth quarter. Empowered Funds LLC now owns 358,639 shares of the financial services provider’s stock worth $11,921,000 after acquiring an additional 26,763 shares during the last quarter. VARCOV Co. acquired a new stake in shares of WesBanco in the fourth quarter valued at approximately $1,085,000. Finally, Wellington Management Group LLP raised its position in shares of WesBanco by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 2,764,222 shares of the financial services provider’s stock valued at $91,883,000 after buying an additional 332,585 shares in the last quarter. Institutional investors own 61.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WSBC. Raymond James Financial restated a “strong-buy” rating and set a $41.00 price objective on shares of WesBanco in a research report on Thursday, March 12th. Weiss Ratings upgraded WesBanco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Finally, DA Davidson assumed coverage on WesBanco in a report on Wednesday, February 25th. They set a “buy” rating and a $44.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $40.60.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.