WesBanco (NASDAQ:WSBC) Releases Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Earnings beat: WesBanco reported $0.91 EPS for the quarter versus $0.86 expected, beating by $0.05 and recording a net margin of 15.51% and return on equity of 8.81%.
• The company paid a quarterly dividend of $0.38 (annualized $1.52), representing a 4.3% yield and a dividend payout ratio of 73.43%.
• Despite the beat, shares fell to $35.73 on higher-than-average volume; the stock has a $3.43B market cap, a 17.26 P/E, and a consensus analyst rating of Buy with a $40.60 target.

WesBanco (NASDAQ:WSBC - Get Free Report) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05, FiscalAI reports. WesBanco had a net margin of 15.51% and a return on equity of 8.81%.

WesBanco Stock Performance

Shares of WesBanco stock traded down $0.59 on Tuesday, reaching $35.73. 733,157 shares of the stock were exchanged, compared to its average volume of 542,701. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.40. WesBanco has a twelve month low of $27.92 and a twelve month high of $38.10. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 17.26 and a beta of 0.74. The business has a 50 day moving average price of $35.03 and a two-hundred day moving average price of $33.83.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, March 6th. This represents a $1.52 annualized dividend and a dividend yield of 4.3%. WesBanco's dividend payout ratio (DPR) is currently 73.43%.

Institutional Trading of WesBanco

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in WesBanco by 52.2% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of WesBanco by 56.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider's stock valued at $1,582,000 after purchasing an additional 18,347 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of WesBanco by 1,553.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 1,895 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 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 buying an additional 991,584 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 worth $6,704,000 after purchasing an additional 81,319 shares in the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WSBC shares. DA Davidson initiated coverage on shares of WesBanco in a research report on Wednesday, February 25th. They issued a "buy" rating and a $44.00 price objective on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $41.00 price target on shares of WesBanco in a research report on Thursday, March 12th. Finally, Weiss Ratings upgraded shares of WesBanco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, WesBanco has a consensus rating of "Buy" and a consensus target price of $40.60.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.

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