WesBanco (NASDAQ:WSBC) Posts Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• WesBanco reported a quarterly EPS of $0.91, exceeding analysts' expectations of $0.88 by $0.03.
• The company declared a quarterly dividend of $0.37 per share, yielding 4.65% annually, with a high dividend payout ratio of 96.73%.
• Several analysts have adjusted their price targets for WesBanco, with an average target now at $38.71, reflecting a consensus rating of "Moderate Buy".

WesBanco (NASDAQ:WSBC - Get Free Report) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04, Zacks reports. WesBanco had a return on equity of 7.72% and a net margin of 11.65%. The firm had revenue of $260.73 million during the quarter, compared to the consensus estimate of $261.14 million. During the same period in the prior year, the company earned $0.49 EPS.

WesBanco Trading Down 2.1%

Shares of NASDAQ WSBC traded down $0.62 during midday trading on Friday, reaching $29.51. 765,116 shares of the stock were exchanged, compared to its average volume of 609,957. The stock has a market capitalization of $2.82 billion, a P/E ratio of 17.78 and a beta of 0.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.93. The company has a 50 day simple moving average of $31.64 and a 200 day simple moving average of $31.86. WesBanco has a twelve month low of $26.42 and a twelve month high of $37.36.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.48 annualized dividend and a dividend yield of 5.0%. WesBanco's dividend payout ratio is 89.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WSBC shares. Keefe, Bruyette & Woods dropped their target price on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada dropped their price objective on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, WesBanco currently has an average rating of "Moderate Buy" and an average price target of $38.83.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WSBC. Goldman Sachs Group Inc. raised its position in WesBanco by 179.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider's stock valued at $47,779,000 after purchasing an additional 991,584 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of WesBanco by 60.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,545 shares of the financial services provider's stock valued at $6,704,000 after acquiring an additional 81,319 shares during the last quarter. Jane Street Group LLC raised its stake in shares of WesBanco by 867.9% in the 1st quarter. Jane Street Group LLC now owns 133,430 shares of the financial services provider's stock valued at $4,131,000 after acquiring an additional 119,645 shares during the period. Royal Bank of Canada lifted its holdings in shares of WesBanco by 52.2% in the 1st quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider's stock worth $1,858,000 after acquiring an additional 20,585 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of WesBanco by 56.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider's stock worth $1,582,000 after purchasing an additional 18,347 shares during the period. 61.41% of the stock is currently owned by institutional investors and hedge funds.

About WesBanco

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.