WesBanco, Inc. to Post FY2021 Earnings of $3.55 Per Share, B. Riley Forecasts (NASDAQ:WSBC)

WesBanco, Inc. (NASDAQ:WSBC) – Equities research analysts at B. Riley lowered their FY2021 earnings per share (EPS) estimates for WesBanco in a report released on Wednesday, January 12th. B. Riley analyst S. Moss now expects that the financial services provider will post earnings per share of $3.55 for the year, down from their previous forecast of $3.56. B. Riley also issued estimates for WesBanco’s Q4 2021 earnings at $0.83 EPS, Q2 2022 earnings at $0.62 EPS, Q3 2022 earnings at $0.60 EPS, Q4 2022 earnings at $0.66 EPS, FY2022 earnings at $2.50 EPS, Q1 2023 earnings at $0.62 EPS, Q2 2023 earnings at $0.65 EPS, Q3 2023 earnings at $0.67 EPS, Q4 2023 earnings at $0.71 EPS and FY2023 earnings at $2.65 EPS.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Tuesday, October 26th. The financial services provider reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The company had revenue of $148.03 million for the quarter, compared to analysts’ expectations of $146.23 million. WesBanco had a net margin of 37.95% and a return on equity of 9.23%. WesBanco’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of WesBanco from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Tuesday, January 4th. Royal Bank of Canada upped their target price on shares of WesBanco from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 29th. Finally, Boenning Scattergood reissued a “neutral” rating on shares of WesBanco in a research report on Wednesday, September 29th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $38.00.

Shares of NASDAQ:WSBC opened at $38.24 on Thursday. The firm has a market cap of $2.42 billion, a PE ratio of 11.08 and a beta of 1.03. WesBanco has a one year low of $28.65 and a one year high of $39.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50 day simple moving average is $35.07 and its 200-day simple moving average is $34.40.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio increased its stake in shares of WesBanco by 6.1% in the third quarter. Strs Ohio now owns 36,300 shares of the financial services provider’s stock valued at $1,237,000 after buying an additional 2,100 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in WesBanco by 39.5% in the second quarter. Cubist Systematic Strategies LLC now owns 7,897 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 2,237 shares during the last quarter. Legal & General Group Plc boosted its holdings in WesBanco by 4.8% during the second quarter. Legal & General Group Plc now owns 48,271 shares of the financial services provider’s stock worth $1,719,000 after buying an additional 2,221 shares during the last quarter. Dupont Capital Management Corp boosted its holdings in WesBanco by 18.7% during the third quarter. Dupont Capital Management Corp now owns 31,590 shares of the financial services provider’s stock worth $1,077,000 after buying an additional 4,977 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in WesBanco by 197.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,693 shares of the financial services provider’s stock worth $773,000 after buying an additional 14,401 shares during the last quarter. Institutional investors and hedge funds own 60.06% of the company’s stock.

In other WesBanco news, Director James W. Cornelsen sold 30,907 shares of the company’s stock in a transaction dated Tuesday, November 23rd. The shares were sold at an average price of $35.56, for a total value of $1,099,052.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director F Eric Nelson, Jr. sold 1,196 shares of the business’s stock in a transaction dated Wednesday, December 22nd. The stock was sold at an average price of $33.46, for a total value of $40,018.16. The disclosure for this sale can be found here. Insiders own 3.13% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Friday, December 10th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, December 9th. This represents a $1.32 dividend on an annualized basis and a yield of 3.45%. WesBanco’s dividend payout ratio (DPR) is 38.26%.

About WesBanco

WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.

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Earnings History and Estimates for WesBanco (NASDAQ:WSBC)

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