FY2024 EPS Estimates for WesBanco, Inc. (NASDAQ:WSBC) Lowered by DA Davidson

WesBanco, Inc. (NASDAQ:WSBC) – DA Davidson cut their FY2024 earnings per share (EPS) estimates for shares of WesBanco in a report issued on Thursday, October 3rd. DA Davidson analyst M. Navas now expects that the financial services provider will post earnings of $2.08 per share for the year, down from their previous estimate of $2.10. DA Davidson has a “Buy” rating and a $42.00 price target on the stock. The consensus estimate for WesBanco’s current full-year earnings is $2.07 per share.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $234.35 million during the quarter, compared to analysts’ expectations of $148.40 million. WesBanco had a net margin of 15.22% and a return on equity of 5.90%. During the same quarter last year, the company earned $0.71 earnings per share.

A number of other research analysts have also recently weighed in on WSBC. Keefe, Bruyette & Woods lifted their price objective on shares of WesBanco from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Hovde Group upped their price objective on WesBanco from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Stephens increased their price objective on WesBanco from $27.00 to $34.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $35.00 target price on shares of WesBanco in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $34.71.

WesBanco Stock Up 2.0 %

Shares of WSBC opened at $29.36 on Friday. The company’s 50-day moving average price is $30.70 and its 200 day moving average price is $29.13. WesBanco has a 12-month low of $23.00 and a 12-month high of $34.85. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.74 billion, a P/E ratio of 12.16 and a beta of 0.82.

Institutional Investors Weigh In On WesBanco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP boosted its holdings in shares of WesBanco by 215.3% in the 2nd quarter. Quarry LP now owns 1,337 shares of the financial services provider’s stock valued at $37,000 after buying an additional 913 shares during the period. Signaturefd LLC grew its holdings in shares of WesBanco by 214.5% during the second quarter. Signaturefd LLC now owns 1,384 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 944 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of WesBanco during the 2nd quarter worth approximately $53,000. TFO Wealth Partners LLC lifted its holdings in shares of WesBanco by 26,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 3,144 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in WesBanco during the 2nd quarter valued at approximately $91,000. Institutional investors own 61.41% of the company’s stock.

Insider Activity at WesBanco

In other WesBanco news, EVP Michael L. Perkins sold 5,363 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $30.19, for a total transaction of $161,908.97. Following the completion of the sale, the executive vice president now directly owns 46,817 shares in the company, valued at $1,413,405.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.44% of the stock is owned by insiders.

WesBanco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.90%. WesBanco’s dividend payout ratio is presently 60.00%.

WesBanco Company Profile

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.