WesBanco, Inc. (NASDAQ:WSBC) – B. Riley Research analysts cut their fourth quarter 2022 earnings per share (EPS) estimates for WesBanco shares in a report released Thursday, January 27. B. Riley analyst S. Moss now expects the financial services provider to earn $0.63 per share for the quarter, down from its previous estimate of $0.66. WesBanco Inc (NASDAQ:WSBC) last released its quarterly results on Monday, January 24. The financial services provider reported earnings per share of $0.82 for the quarter, beating consensus analyst estimates of $0.71 by $0.11. WesBanco achieved a return on equity of 9.23% and a net margin of 37.95%. During the same period a year earlier, the company posted EPS of $0.76.
Separately, Zacks Investment Research moved WesBanco from a “buy” rating to a “hold” rating in a research note on Saturday. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.00.
WSBC opened at $35.73 on Monday. WesBanco has a 1 year minimum of $28.65 and a 1 year maximum of $39.87. The stock’s fifty-day simple moving average is $35.28 and its 200-day simple moving average is $34.52. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt ratio of 0.15. The stock has a market capitalization of $2.26 billion, a PE ratio of 10.36 and a beta of 1.03.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 3. Shareholders of record on Friday, December 10 received a dividend of $0.33 per share. This represents an annualized dividend of $1.32 and a yield of 3.69%. The ex-dividend date was Thursday, December 9. WesBanco’s payout ratio is 38.26%.
In other news, manager Stephen J. Callen acquired 5,000 shares in a transaction on Monday, December 20. The shares were purchased at an average price of $32.72 per share, for a total transaction of $163,600.00. The acquisition was disclosed in an SEC filing, which is available via the SEC website. Also, director F Eric Nelson, Jr. sold 1,196 shares of the company in a trade on Wednesday, December 22. The stock was sold at an average price of $33.46, for a total value of $40,018.16. Disclosure of this sale can be found here. 3.13% of the shares are held by insiders of the company.
Several hedge funds and other institutional investors have recently changed their holdings in WSBC. State Street Corp increased its position in WesBanco shares by 16.0% in the second quarter. State Street Corp now owns 2,174,275 shares of the financial services provider worth $78,127,000 after purchasing an additional 299,326 shares during the period. BlackRock Inc. increased its position in WesBanco shares by 4.8% in the second quarter. BlackRock Inc. now owns 5,718,768 shares of the financial services provider worth $203,758,000 after purchasing an additional 259,686 shares during the period. Morgan Stanley increased its position in WesBanco shares by 171.1% in the second quarter. Morgan Stanley now owns 204,113 shares of the financial services provider worth $7,272,000 after purchasing an additional 128,822 shares during the period. Goldman Sachs Group Inc. increased its position in WesBanco shares by 75.8% in the third quarter. Goldman Sachs Group Inc. now owns 268,297 shares of the financial services provider worth $9,144,000 after purchasing an additional 115,687 shares during the period. Finally, Vanguard Group Inc. increased its position in WesBanco shares by 1.8% in the second quarter. Vanguard Group Inc. now owns 6,221,742 shares of the financial services provider worth $221,680,000 after purchasing an additional 108,676 shares during the period. Institutional investors hold 60.06% of the company’s shares.
WesBanco, Inc is a bank holding company that provides financial services. It operates through the following segments: Community Banking and Trust and Investment Services. The Community Banking segment provides services traditionally offered by commercial service banks, including commercial current accounts, individual current accounts and term deposit accounts, as well as commercial, mortgage and individual installment loans, and some non-traditional offerings, such as insurance and securities brokerage. services.
Feature article: Neutral assessment
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