4th Quarter 2022 Earnings Guidance for WesBanco, Inc. Issued by B. Riley (NASDAQ:WSBC)
WesBanco, Inc. (NASDAQ:WSBC) – Research analysts from B. Riley lowered their estimates for fourth-quarter 2022 earnings per share (EPS) for shares of WesBanco in a report published on Thursday, January. B. Riley analyst S. Moss now forecasts the financial services firm to earn $0.63 per share for the quarter, down from its previous estimate of $0.66. WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Monday, January 24th. The financial services firm reported earnings per share of $0.82 for the quarter, beating analysts’ consensus estimate of $0.71 by $0.11. WesBanco had a return on equity of 9.23% and a net margin of 37.95%. In the same period last year, the company posted $0.76 per share.
Separately, Zacks Investment Research cut WesBanco from a “buy” rating to a “hold” rating in a research note on Saturday. Six research analysts have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $38.00.
WSBC opened at $35.73 on Monday. WesBanco has a 1-year low of $28.65 and a 1-year high of $39.87. The stock’s 50-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 to equity ratio of 0.15. The stock has a market cap of $2.26 billion, a P/E of 10.36 and a beta of 1.03.
The company also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Stockholders of record on Friday, December 10 received a dividend of $0.33 per share. That equates to an annualized dividend of $1.32 and a yield of 3.69%. The ex-dividend date of this dividend was Thursday December 9th. WesBanco’s payout percentage is 38.26%.
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Also on Monday, December 20, Director Stephen J. Callen acquired 5,000 shares of the stock in one transaction. 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 a filing with the SEC, which is available at the SEC website. Also director FERic Nelson, Jr. sold 1,196 shares of the company’s shares in a transaction on Wednesday, December 22nd. The stock sold at an average price of $33.46 for a total value of $40,018.16. Disclosure for this sale can be found here. 3.13% of the shares are owned by company insiders.
Several hedge funds and other institutional investors have recently changed their holdings of 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, valued at $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 valued at $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 firm, valued at $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, valued at $9,144,000, after purchasing an additional 115,687 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of WesBanco by 1.8% in the second quarter. Vanguard Group Inc. now owns 6,221,742 shares of the financial services provider valued at $221,680,000 after purchasing an additional 108,676 shares during the period. Institutional investors own 60.06% of the company’s shares.
About Wes Banco
WesBanco, Inc is a bank holding company providing financial services. It operates through the following segments: Community Banking and Trust and Investment Services. The Community Banking segment provides services traditionally offered by service commercial banks, including commercial, individual, and term deposit accounts, as well as business, mortgage, and personal installment lending, and certain non-traditional offerings such as insurance and securities broking services.
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