WesBanco (WSBC) Posts Earnings Results, Misses Expectations By $0.02 EPS

WesBanco (NASDAQ:WSBC) posted its earnings results on Tuesday. The financial services provider reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.02), Briefing.com reports. WesBanco had a return on equity of 9.20% and a net margin of 27.77%. The firm had revenue of $126.13 million for the quarter, compared to analyst estimates of $127.68 million. During the same quarter last year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was up 29.7% on a year-over-year basis.

NASDAQ WSBC opened at $42.18 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.86 and a current ratio of 0.86. WesBanco has a 52-week low of $34.14 and a 52-week high of $51.12. The stock has a market cap of $2.25 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.26 and a beta of 1.07.

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from WesBanco’s previous quarterly dividend of $0.29. WesBanco’s dividend payout ratio (DPR) is currently 38.63%.

A number of research firms recently issued reports on WSBC. Zacks Investment Research raised WesBanco from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Sunday, January 6th. BidaskClub raised WesBanco from a “strong sell” rating to a “sell” rating in a report on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.67.

In related news, Director Denise H. Knouse-Snyder purchased 675 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were purchased at an average price of $42.36 per share, with a total value of $28,593.00. Following the completion of the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $84,720. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kerry M. Stemler purchased 1,343 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average cost of $37.66 per share, for a total transaction of $50,577.38. Following the acquisition, the director now owns 96,004 shares of the company’s stock, valued at $3,615,510.64. The disclosure for this purchase can be found here. Company insiders own 3.24% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in WesBanco by 20.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,763,213 shares of the financial services provider’s stock valued at $212,344,000 after purchasing an additional 798,937 shares in the last quarter. Vanguard Group Inc boosted its holdings in WesBanco by 20.2% in the 3rd quarter. Vanguard Group Inc now owns 4,763,213 shares of the financial services provider’s stock valued at $212,344,000 after purchasing an additional 798,937 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in WesBanco by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,137,935 shares of the financial services provider’s stock valued at $151,821,000 after purchasing an additional 15,028 shares in the last quarter. BlackRock Inc. boosted its holdings in WesBanco by 4.0% in the 4th quarter. BlackRock Inc. now owns 3,840,406 shares of the financial services provider’s stock valued at $140,906,000 after purchasing an additional 148,054 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its holdings in WesBanco by 0.6% in the 4th quarter. Wesbanco Bank Inc. now owns 1,634,581 shares of the financial services provider’s stock valued at $59,973,000 after purchasing an additional 9,813 shares in the last quarter. 58.71% of the stock is currently owned by hedge funds and other institutional investors.

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About WesBanco

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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Earnings History for WesBanco (NASDAQ:WSBC)

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