Equities Analysts Offer Predictions for WesBanco, Inc.’s Q3 2023 Earnings (NASDAQ:WSBC)

WesBanco, Inc. (NASDAQ:WSBCGet Rating) – Equities researchers at B. Riley reduced their Q3 2023 earnings per share estimates for WesBanco in a research note issued on Sunday, July 31st. B. Riley analyst S. Moss now forecasts that the financial services provider will post earnings of $0.60 per share for the quarter, down from their prior forecast of $0.68. The consensus estimate for WesBanco’s current full-year earnings is $3.09 per share. B. Riley also issued estimates for WesBanco’s Q4 2023 earnings at $0.58 EPS.

Several other research firms have also weighed in on WSBC. Piper Sandler lowered WesBanco from a “neutral” rating to an “underweight” rating and set a $34.00 price target on the stock. in a research report on Wednesday, May 4th. DA Davidson restated a “buy” rating on shares of WesBanco in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.67.

WesBanco Stock Down 1.9 %

NASDAQ:WSBC opened at $33.59 on Tuesday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 11.95 and a beta of 0.92. WesBanco has a 1-year low of $29.50 and a 1-year high of $38.37. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17. The business’s fifty day moving average price is $32.42 and its 200 day moving average price is $33.92.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 10th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, June 9th. This represents a $1.36 annualized dividend and a yield of 4.05%. WesBanco’s payout ratio is 48.40%.

Insider Activity at WesBanco

In related news, CEO Todd Clossin sold 5,000 shares of the 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 completion of the sale, the chief executive officer now owns 129,393 shares in the company, valued at approximately $4,184,569.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Todd Clossin sold 5,000 shares of the 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 completion of the sale, the chief executive officer now owns 129,393 shares in the company, valued at approximately $4,184,569.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan D. Dargusch sold 2,000 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $34.05, for a total value of $68,100.00. Following the sale, the executive vice president now owns 26,615 shares of the company’s stock, 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 in the last 90 days. 3.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On WesBanco

Large investors have recently added to or reduced their stakes in the company. MCF Advisors LLC acquired a new position in WesBanco in the 1st quarter valued at approximately $33,000. Allworth Financial LP raised its holdings in WesBanco by 293.6% in the 1st quarter. Allworth Financial LP now owns 1,051 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 784 shares in the last quarter. Ancora Advisors LLC acquired a new position in WesBanco in the 1st quarter valued at approximately $43,000. Lindbrook Capital LLC raised its holdings in WesBanco by 414.0% in the 1st quarter. Lindbrook Capital LLC now owns 1,362 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Confluence Wealth Services Inc. acquired a new position in WesBanco in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 60.61% of the company’s stock.

About WesBanco

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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.

See Also

Earnings History and Estimates for WesBanco (NASDAQ:WSBC)

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