WesBanco, Inc. to Post Q3 2023 Earnings of $0.63 Per Share, DA Davidson Forecasts (NASDAQ:WSBC)

WesBanco, Inc. (NASDAQ:WSBC – Free Report) – Equities researchers at DA Davidson issued their Q3 2023 earnings per share (EPS) estimates for shares of WesBanco in a research report issued to clients and investors on Thursday, July 27th. DA Davidson analyst M. Navas forecasts that the financial services provider will post earnings of $0.63 per share for the quarter. The consensus estimate for WesBanco’s current full-year earnings is $2.70 per share. DA Davidson also issued estimates for WesBanco’s FY2023 earnings at $2.65 EPS and FY2024 earnings at $2.40 EPS.

WesBanco (NASDAQ:WSBC – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. WesBanco had a return on equity of 8.52% and a net margin of 26.04%. The company had revenue of $153.41 million for the quarter, compared to analyst estimates of $151.14 million. During the same quarter last year, the company posted $0.67 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year.

Several other brokerages have also issued reports on WSBC. Stephens began coverage on WesBanco in a research note on Monday, April 3rd. They issued an “equal weight” rating and a $28.00 price target on the stock. Piper Sandler reduced their price objective on WesBanco from $34.00 to $29.00 in a research report on Monday, May 1st. StockNews.com began coverage on WesBanco in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Keefe, Bruyette & Woods reduced their price objective on WesBanco from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. Finally, Royal Bank of Canada reduced their price objective on WesBanco from $36.00 to $32.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.00.

WesBanco Trading Down 3.0 %

Shares of WSBC opened at $28.24 on Friday. WesBanco has a 52-week low of $19.84 and a 52-week high of $41.37. The business’s fifty day moving average is $25.80 and its 200-day moving average is $30.13. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 9.20 and a beta of 0.91.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Friday, June 9th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend was Thursday, June 8th. WesBanco’s dividend payout ratio is 45.60%.

Insider Activity

In other WesBanco news, COO Jeffrey H. Jackson acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were bought at an average cost of $22.34 per share, with a total value of $111,700.00. Following the purchase, the chief operating officer now directly owns 17,627 shares of the company’s stock, valued at $393,787.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert J. Fitzsimmons purchased 15,500 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average cost of $23.10 per share, with a total value of $358,050.00. Following the purchase, the director now owns 46,908 shares in the company, valued at $1,083,574.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey H. Jackson purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average cost of $22.34 per share, for a total transaction of $111,700.00. Following the completion of the purchase, the chief operating officer now owns 17,627 shares in the company, valued at approximately $393,787.18. The disclosure for this purchase can be found here. Insiders have acquired 25,500 shares of company stock valued at $603,155 in the last ninety days. 3.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. EA Series Trust acquired a new position in WesBanco during the 2nd quarter worth approximately $3,245,000. Raymond James & Associates increased its holdings in WesBanco by 3.0% during the 2nd quarter. Raymond James & Associates now owns 41,977 shares of the financial services provider’s stock worth $1,075,000 after purchasing an additional 1,211 shares in the last quarter. Creative Planning increased its holdings in WesBanco by 31.6% during the 2nd quarter. Creative Planning now owns 32,423 shares of the financial services provider’s stock worth $830,000 after purchasing an additional 7,789 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in WesBanco by 10.2% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 21,408 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 1,985 shares in the last quarter. Finally, Bartlett & Co. LLC bought a new stake in WesBanco during the 2nd quarter worth approximately $2,318,000. 57.96% of the stock is owned by institutional investors and hedge funds.

About WesBanco

(Get Free Report)

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services.

Featured Stories

Earnings History and Estimates for WesBanco (NASDAQ:WSBC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider WesBanco, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and WesBanco wasn’t on the list.

While WesBanco currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here