B. Riley Comments on WesBanco Inc’s Q3 2019 Earnings (NASDAQ:WSBC)
WesBanco Inc (NASDAQ:WSBC) – Investment analysts at B. Riley reduced their Q3 2019 earnings per share estimates for WesBanco in a report released on Thursday, July 11th. B. Riley analyst S. Moss now expects that the financial services provider will earn $0.78 per share for the quarter, down from their previous estimate of $0.79. B. Riley also issued estimates for WesBanco’s Q4 2019 earnings at $0.78 EPS and Q2 2020 earnings at $0.78 EPS.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Friday, June 28th. Hovde Group assumed coverage on shares of WesBanco in a research report on Monday, June 17th. They set an “outperform” rating and a $42.00 target price on the stock. ValuEngine raised shares of Xylem from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. BidaskClub raised shares of Zynerba Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 18th. Finally, Boenning Scattergood reissued an “outperform” rating and set a $47.75 target price on shares of WSFS Financial in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. WesBanco has an average rating of “Hold” and an average target price of $44.00.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.02). WesBanco had a return on equity of 8.92% and a net margin of 27.17%. The business had revenue of $126.13 million for the quarter, compared to analysts’ expectations of $127.68 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. WesBanco’s quarterly revenue was up 29.7% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.24 annualized dividend and a yield of 3.29%. WesBanco’s dividend payout ratio is presently 38.63%.
A number of institutional investors and hedge funds have recently bought and sold shares of WSBC. Trustcore Financial Services LLC acquired a new stake in WesBanco in the first quarter valued at $25,000. Executive Wealth Management LLC acquired a new stake in WesBanco in the fourth quarter valued at $27,000. Public Employees Retirement System of Ohio raised its holdings in WesBanco by 52.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 727 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 250 shares in the last quarter. Advisory Services Network LLC raised its holdings in WesBanco by 55.8% in the fourth quarter. Advisory Services Network LLC now owns 765 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 274 shares in the last quarter. Finally, Horan Capital Advisors LLC. acquired a new stake in WesBanco in the first quarter valued at $164,000. 57.50% of the stock is currently owned by hedge funds and other institutional investors.
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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