WesBanco (WSBC) Set to Announce Earnings on Tuesday

WesBanco (NASDAQ:WSBC – Get Free Report) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, July 25th. Analysts expect WesBanco to post earnings of $0.68 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

WesBanco (NASDAQ:WSBC – Get Free Report) last posted its quarterly earnings data on Monday, April 24th. The financial services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.06). WesBanco had a return on equity of 8.40% and a net margin of 28.13%. The company had revenue of $151.99 million for the quarter, compared to analyst estimates of $157.27 million. During the same quarter in the prior year, the company posted $0.70 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. On average, analysts expect WesBanco to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

WesBanco Price Performance

Shares of WesBanco stock opened at $26.10 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day simple moving average of $25.14 and a two-hundred day simple moving average of $30.52. The stock has a market capitalization of $1.55 billion, a P/E ratio of 8.61 and a beta of 0.91. WesBanco has a 12 month low of $19.84 and a 12 month high of $41.37.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Friday, June 9th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, June 8th. This represents a $1.40 annualized dividend and a yield of 5.36%. WesBanco’s dividend payout ratio is presently 46.20%.

Insider Buying and Selling

In other news, Director Robert J. Fitzsimmons bought 15,500 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average price of $23.10 per share, for a total transaction of $358,050.00. Following the completion of the purchase, the director now owns 46,908 shares in the company, valued at approximately $1,083,574.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Gregory S. Proctor, Jr. acquired 3,500 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were bought at an average price of $28.08 per share, with a total value of $98,280.00. Following the completion of the acquisition, the director now owns 41,913 shares in the company, valued at $1,176,917.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert J. Fitzsimmons bought 15,500 shares of the stock in a transaction dated Monday, May 8th. The stock was bought at an average price of $23.10 per share, with a total value of $358,050.00. Following the acquisition, the director now owns 46,908 shares in the company, valued at approximately $1,083,574.80. The disclosure for this purchase can be found here. Insiders bought 25,500 shares of company stock worth $603,155 over the last 90 days. 3.07% of the stock is owned by insiders.

Hedge Funds Weigh In On WesBanco

Several large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of WesBanco by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,763 shares of the financial services provider’s stock valued at $2,099,000 after buying an additional 313 shares during the last quarter. UBS Group AG lifted its position in WesBanco by 2.4% during the 2nd quarter. UBS Group AG now owns 13,774 shares of the financial services provider’s stock worth $437,000 after acquiring an additional 322 shares during the period. Captrust Financial Advisors grew its stake in shares of WesBanco by 9.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,780 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 338 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of WesBanco by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 22,791 shares of the financial services provider’s stock valued at $843,000 after purchasing an additional 389 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of WesBanco by 2.3% during the first quarter. Bank of Montreal Can now owns 25,911 shares of the financial services provider’s stock worth $905,000 after purchasing an additional 583 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on WSBC. StockNews.com started coverage on WesBanco in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Piper Sandler reduced their price target on WesBanco from $34.00 to $29.00 in a report on Monday, May 1st. DA Davidson dropped their price objective on shares of WesBanco from $38.00 to $31.00 in a report on Wednesday, April 26th. Stephens began coverage on shares of WesBanco in a research note on Monday, April 3rd. They set an “equal weight” rating and a $28.00 target price on the stock. Finally, Royal Bank of Canada dropped their price target on shares of WesBanco from $36.00 to $32.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.00.

WesBanco Company Profile

(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.