WesBanco (NASDAQ:WSBC – Get Free Report) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01, FiscalAI reports. The firm had revenue of $272.74 million during the quarter, compared to analyst estimates of $274.88 million. WesBanco had a net margin of 23.35% and a return on equity of 9.72%.
WesBanco Trading Up 0.1%
WesBanco stock traded up $0.02 during trading hours on Wednesday, reaching $37.65. The stock had a trading volume of 588,281 shares, compared to its average volume of 870,916. The company has a fifty day simple moving average of $39.35 and a 200-day simple moving average of $37.83. WesBanco has a 52 week low of $29.57 and a 52 week high of $43.02. The stock has a market cap of $3.61 billion, a PE ratio of 10.94 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.
WesBanco Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 4th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, September 4th. WesBanco’s dividend payout ratio (DPR) is 44.19%.
Insider Activity
In other WesBanco news, EVP Robert H. Friend sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $42.06, for a total transaction of $252,360.00. Following the completion of the transaction, the executive vice president owned 17,361 shares of the company’s stock, valued at $730,203.66. This represents a 25.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jan Pattishall-Krupinski sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $41.91, for a total value of $104,775.00. Following the completion of the sale, the executive vice president owned 33,484 shares of the company’s stock, valued at approximately $1,403,314.44. This trade represents a 6.95% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 35,195 shares of company stock valued at $1,465,800. 2.07% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on WSBC. Wall Street Zen lowered WesBanco from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $44.00 price target on shares of WesBanco in a report on Monday, September 14th. DA Davidson set a $46.00 price objective on shares of WesBanco in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $42.00 target price on shares of WesBanco in a research note on Thursday, July 23rd. Finally, Raymond James Financial cut shares of WesBanco from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, WesBanco currently has a consensus rating of “Hold” and an average price target of $43.60.
Read Our Latest Stock Report on WSBC
WesBanco Company Profile
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.
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