B. Riley Weighs in on WesBanco, Inc.’s Q3 2022 Earnings (NASDAQ:WSBC)

WesBanco, Inc. (NASDAQ:WSBCGet Rating) – Investment analysts at B. Riley dropped their Q3 2022 earnings estimates for shares of WesBanco in a report released on Sunday, July 31st. B. Riley analyst S. Moss now expects that the financial services provider will earn $0.78 per share for the quarter, down from their prior forecast 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.

WSBC has been the topic of a number of other research reports. DA Davidson restated a “buy” rating on shares of WesBanco in a report on Wednesday, July 27th. Piper Sandler lowered shares of WesBanco from a “neutral” rating to an “underweight” rating and set a $34.00 target price on the stock. in a research note on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.67.

WesBanco Stock Up 0.7 %

WSBC stock opened at $33.83 on Wednesday. WesBanco has a 12-month low of $29.50 and a 12-month high of $38.37. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 12.04 and a beta of 0.92. The company has a 50 day moving average of $32.44 and a two-hundred day moving average of $33.92.

WesBanco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 10th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.02%. The ex-dividend date was Thursday, June 9th. WesBanco’s dividend payout ratio is currently 48.40%.

Insiders Place Their Bets

In related news, CEO Todd Clossin sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $32.34, for a total transaction of $161,700.00. Following the completion of the transaction, the chief executive officer now owns 129,393 shares in the company, valued at $4,184,569.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jonathan D. Dargusch sold 2,000 shares of the business’s stock in a transaction 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 $906,240.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Todd Clossin sold 5,000 shares of the company’s stock in a transaction 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 directly owns 129,393 shares in the company, valued at $4,184,569.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,000 shares of company stock valued at $295,340. Insiders own 3.15% of the company’s stock.

Institutional Trading of WesBanco

Several institutional investors and hedge funds have recently added to or reduced their stakes in WSBC. MCF Advisors LLC bought a new stake in WesBanco during the first quarter worth $33,000. Allworth Financial LP grew its stake in WesBanco by 293.6% during the first quarter. Allworth Financial LP now owns 1,051 shares of the financial services provider’s stock worth $36,000 after buying an additional 784 shares in the last quarter. Ancora Advisors LLC acquired a new stake in WesBanco during the first quarter worth about $43,000. Lindbrook Capital LLC lifted its holdings in shares of WesBanco by 414.0% in the first quarter. Lindbrook Capital LLC now owns 1,362 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,097 shares during the last quarter. Finally, Confluence Wealth Services Inc. bought a new position in shares of WesBanco in the fourth quarter worth about $55,000. 60.61% of the stock is owned by institutional investors.

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.

See Also

Earnings History and Estimates for WesBanco (NASDAQ:WSBC)

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