WesBanco, Inc. (NASDAQ:WSBC) forecasts earnings of $3.55 per share after fiscal 2021
WesBanco, Inc. (NASDAQ:WSBC) – Analysts at B. Riley lowered their fiscal 2021 EPS estimates for WesBanco shares in a research report published on Wednesday, January 12. B. Riley analyst S. Moss now expects the financial services firm to report earnings of $3.55 per share for the year, down from its previous guidance of $3.56. B. Riley also provided estimates for WesBanco’s fourth quarter 2021 earnings of $0.83 per share, second quarter 2022 of $0.62 per share, third quarter of 2022 $0.60 per share, fourth quarter 2022 of $0.66 per share, FY2022 of $2.50 per share and Q1 2023 of $0.62 per share in Q2 starting 2023 earnings at $0.65 per share, Q3 earnings 2023 at $0.67 per share, Q4 2023 earnings at $0.71 per share and full year 2023 earnings at $2.65 per share. WesBanco (NASDAQ:WSBC) last reported earnings results on Tuesday, October 26th. The financial services firm reported $0.70 EPS for the quarter, missing Zacks’ consensus estimate of $0.77 ($0.07). The company had revenue of $148.03 million for the quarter, compared to the consensus estimate of $146.23 million. WesBanco had a return on equity of 9.23% and a net margin of 37.95%. WesBanco’s revenue fell 4.6% year over year. In the same quarter last year, the company generated earnings per share of $0.66.
Other equity analysts have also recently issued research reports on the stock. Zacks Investment Research upgraded WesBanco shares to a buy from a “hold” rating and set a price target for the company of $39.00 in a research report on Tuesday, January 4th. The Royal Bank of Canada raised its target price on WesBanco to $38.00 from $36.00 and gave the company a sector perform rating in a research report on Wednesday, September 29. Finally, Boenning Scattergood reiterated a “neutral” rating on shares of WesBanco in a research note on Wednesday, September 29th. Five research analysts have rated the stock with a hold rating and one has rated the company’s stock with a buy. According to data from MarketBeat.com, WesBanco currently has an average rating of Hold and a consensus price target of $38.00.
shares of WSBC stock opened at $37.44 on Thursday. The company’s 50-day moving average is $34.97 and its two-hundred-day moving average is $34.36. The company has a market cap of $2.37 billion, a P/E of 10.85 and a beta of 1.03. WesBanco has a 12-month low of $28.65 and a 12-month high of $39.87. The company has a debt to equity ratio of 0.15, a current ratio of 0.81 and a quick ratio of 0.81.
The company also recently announced a quarterly dividend, which was paid on Monday, January 3rd. A dividend of $0.33 per share was paid to investors of record on Friday, December 10th. The ex-dividend date was Thursday 9th December. That equates to a dividend of $1.32 on an annualized basis and a dividend yield of 3.53%. WesBanco’s payout ratio currently stands at 38.26%.
In other WesBanco news, Director Stephen J. Callen bought 5,000 WesBanco shares in a transaction on Monday, December 20th. The stock was purchased at an average price of $32.72 per share for a total value of $163,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed here this link. In addition, Director F. Eric Nelson, Jr. sold 1,196 shares of the company’s stock in a transaction that took place on Wednesday, December 22nd. The shares were 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 bought and sold shares of the stock recently. Evermay Wealth Management LLC acquired a new stake in WesBanco stock valued at approximately $36,000 during the second quarter. Nisa Investment Advisors LLC acquired a new stake in WesBanco valued at approximately $36,000 during the second quarter. Federated Hermes Inc. bought a new position in WesBanco stock worth $38,000 during the second quarter. O Shaughnessy Asset Management LLC acquired a new stake in WesBanco stock valued at $54,000 during the third quarter. Finally, Advisory Services Network LLC acquired a new $80,000 stake in WesBanco during the second quarter. 62.19% of the shares are currently held by institutional investors.
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 time deposit accounts, as well as business, mortgage, and personal installment lending, and certain non-traditional offerings such as insurance and securities brokerage services.
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