WesBanco, Inc. (WSBC) Issues Quarterly Earnings Results
WesBanco, Inc. (NASDAQ:WSBC) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.03), Bloomberg Earnings reports. WesBanco had a return on equity of 7.55% and a net margin of 23.44%. The firm had revenue of $95.15 million for the quarter, compared to the consensus estimate of $98.37 million. During the same period last year, the company posted $0.60 earnings per share.
Shares of WesBanco (NASDAQ:WSBC) traded down 1.48% during trading on Thursday, hitting $41.36. 17,875 shares of the stock traded hands. WesBanco has a 1-year low of $32.06 and a 1-year high of $44.19. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 18.89 and a beta of 0.96. The stock has a 50 day moving average price of $39.74 and a 200-day moving average price of $38.85.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, September 7th. WesBanco’s payout ratio is presently 47.71%.
In related news, EVP Brent E. Richmond sold 1,440 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $36.83, for a total value of $53,035.20. Following the transaction, the executive vice president now directly owns 22,701 shares of the company’s stock, valued at approximately $836,077.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.05% of the stock is currently owned by insiders.
WSBC has been the topic of several analyst reports. BidaskClub lowered shares of WesBanco from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. FBR & Co reaffirmed a “mkt perform” rating and set a $40.00 price target (down from $44.00) on shares of WesBanco in a research report on Thursday, July 20th. Zacks Investment Research lowered shares of WesBanco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $41.00 price target on shares of WesBanco in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $41.00.
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WesBanco Company Profile
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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