WesBanco, Inc. (NASDAQ:WSBC – Get Rating) – Equities research analysts at B. Riley decreased their Q3 2022 earnings per share estimates for shares of WesBanco in a note issued to investors on Sunday, July 31st. B. Riley analyst S. Moss now expects that the financial services provider will post earnings of $0.78 per share for the quarter, down from their previous estimate of $0.85. The consensus estimate for WesBanco’s current full-year earnings is $3.09 per share. B. Riley also issued estimates for WesBanco’s Q4 2022 earnings at $0.86 EPS, FY2022 earnings at $3.03 EPS, Q1 2023 earnings at $0.80 EPS, Q2 2023 earnings at $0.71 EPS and FY2023 earnings at $2.70 EPS.
A number of other equities analysts have also recently weighed in on the company. DA Davidson reaffirmed a “buy” rating on shares of WesBanco in a report on Wednesday, July 27th. Piper Sandler cut WesBanco from a “neutral” rating to an “underweight” rating and set a $34.00 target price for the company. in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.67.
WesBanco Stock Up 0.7 %
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of WSBC. State Street Corp raised its holdings in WesBanco by 27.1% in the 4th 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 during the last quarter. Victory Capital Management Inc. increased its holdings in shares of WesBanco by 79.9% during the 1st quarter. Victory Capital Management Inc. now owns 366,651 shares of the financial services provider’s stock worth $11,821,000 after buying an additional 162,811 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of WesBanco by 24.2% during the 4th quarter. Earnest Partners LLC now owns 690,381 shares of the financial services provider’s stock worth $24,156,000 after buying an additional 134,416 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in WesBanco during the 4th quarter worth $2,826,000. Finally, Seizert Capital Partners LLC purchased a new stake in WesBanco during the 4th quarter worth $2,642,000. 60.61% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at WesBanco
In other WesBanco news, EVP Jonathan D. Dargusch sold 2,000 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $34.05, for a total value of $68,100.00. Following the sale, the executive vice president now directly owns 26,615 shares in the company, valued at $906,240.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Todd Clossin sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $32.34, for a total transaction of $161,700.00. Following the sale, the chief executive officer now owns 129,393 shares of the company’s stock, valued at approximately $4,184,569.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan D. Dargusch sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $34.05, for a total value of $68,100.00. Following the sale, the executive vice president now directly owns 26,615 shares in the company, valued at approximately $906,240.75. The disclosure for this sale can be found here. Insiders sold a total of 9,000 shares of company stock worth $295,340 over the last ninety days. Company insiders own 3.15% of the company’s stock.
WesBanco Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 10th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, June 9th. This represents a $1.36 annualized dividend and a dividend yield of 4.02%. WesBanco’s dividend payout ratio is currently 48.40%.
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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