DA Davidson Weighs in on WesBanco, Inc.’s Q2 2022 Earnings (NASDAQ:WSBC)

WesBanco, Inc. (NASDAQ:WSBCGet Rating) – Equities research analysts at DA Davidson issued their Q2 2022 earnings per share (EPS) estimates for WesBanco in a research note issued on Thursday, April 28th. DA Davidson analyst R. Gunther forecasts that the financial services provider will post earnings of $0.62 per share for the quarter. DA Davidson also issued estimates for WesBanco’s FY2022 earnings at $2.75 EPS and FY2023 earnings at $2.90 EPS.

WesBanco (NASDAQ:WSBCGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The company had revenue of $138.09 million during the quarter, compared to analyst estimates of $139.13 million. WesBanco had a return on equity of 9.32% and a net margin of 39.22%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share.

Other analysts have also recently issued research reports about the company. B. Riley decreased their target price on WesBanco from $35.00 to $32.00 in a report on Tuesday, April 12th. StockNews.com initiated coverage on WesBanco in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research raised WesBanco from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Friday, April 1st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.25.

Shares of NASDAQ:WSBC opened at $33.00 on Friday. The business’s fifty day moving average price is $34.70 and its two-hundred day moving average price is $35.34. WesBanco has a fifty-two week low of $30.21 and a fifty-two week high of $39.87. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 9.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.80 and a quick ratio of 0.80.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in WesBanco by 3.3% during the 4th quarter. BlackRock Inc. now owns 5,541,085 shares of the financial services provider’s stock worth $193,884,000 after buying an additional 176,350 shares during the period. State Street Corp grew its holdings in shares of WesBanco by 27.1% in the fourth quarter. State Street Corp now owns 2,666,868 shares of the financial services provider’s stock valued at $93,990,000 after acquiring an additional 569,251 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of WesBanco by 4.3% in the fourth quarter. Bank of America Corp DE now owns 1,016,187 shares of the financial services provider’s stock valued at $35,556,000 after acquiring an additional 42,300 shares in the last quarter. Earnest Partners LLC grew its holdings in WesBanco by 24.2% during the fourth quarter. Earnest Partners LLC now owns 690,381 shares of the financial services provider’s stock valued at $24,156,000 after purchasing an additional 134,416 shares during the period. Finally, Norges Bank bought a new position in WesBanco during the fourth quarter valued at $22,548,000. 60.15% of the stock is currently owned by institutional investors.

In other news, EVP Jonathan D. Dargusch sold 1,121 shares of WesBanco stock in a transaction on Tuesday, February 8th. The stock was sold at an average price of $36.93, for a total value of $41,398.53. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.15% of the stock is owned by insiders.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, March 11th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, March 10th. This is a boost from WesBanco’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 4.12%. WesBanco’s payout ratio is currently 38.64%.

WesBanco Company Profile (Get Rating)

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit.

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Earnings History and Estimates for WesBanco (NASDAQ:WSBC)

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