Company profile

Ticker
WSBC
Exchange
CEO
Todd F. Clossin
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
IRS number
550571723

WSBC stock data

(
)

Calendar

8 May 20
5 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 142.45M 128.31M 117.35M 119.54M
Net income 23.4M 36.38M 37.35M 44.81M
Diluted EPS 0.35 0.6 0.68 0.82
Net profit margin 16.42% 28.35% 31.83% 37.49%
Net change in cash 359.08M -9.54M 49.98M -142.54M
Cash on hand 593.87M 234.8M 244.33M 194.36M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 484.25M 414.96M 332.42M 286.1M
Net income 158.87M 143.11M 94.48M 86.64M
Diluted EPS 2.83 2.92 2.14 2.16
Net profit margin 32.81% 34.49% 28.42% 30.28%
Net change in cash 65.61M 51.61M -10.6M 41.49M
Cash on hand 234.8M 169.19M 117.57M 128.17M

Financial data from WesBanco earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
22 Jun 20 Libs Gary L Common Stock Buy Aquire P No 20.701 25,000 517.53K 212,973.8
15 Jun 20 Dargusch Jonathan D Common Stock Gift Aquire G No 0 150 0 725
15 Jun 20 Dargusch Jonathan D Common Stock Gift Dispose G No 0 150 0 24,949.689
3 Jun 20 Cornelsen James W Common Stock Sell Dispose S No 22.416 20,000 448.32K 109,113
2 Jun 20 Cornelsen James W Common Stock Sell Dispose S No 21.262 20,000 425.24K 129,113
1 Jun 20 Cornelsen James W Common Stock Sell Dispose S No 21.6 9,420 203.47K 149,113
57.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 180 205 -12.2%
Opened positions 18 42 -57.1%
Closed positions 43 26 +65.4%
Increased positions 63 87 -27.6%
Reduced positions 61 42 +45.2%
13F shares
Current Prev Q Change
Total value 4.94B 5.33B -7.3%
Total shares 38.8M 39.52M -1.8%
Total puts 0 0
Total calls 0 14.8K EXIT
Total put/call ratio
Largest owners
Shares Value Change
Vanguard 6.31M $149.64M +2.5%
BLK BlackRock 5.08M $120.37M +2.6%
Dimensional Fund Advisors 4.64M $110.04M +0.7%
MCQEF Macquarie 3.18M $75.42M +36.8%
Wesbanco Bank 1.99M $47.11M -1.9%
STT State Street 1.42M $34.07M +7.0%
NTRS Northern Trust 1.37M $32.58M +0.6%
Victory Capital Management 1.29M $30.5M -0.6%
FMR 1.02M $24.26M -47.6%
Geode Capital Management 1.02M $24.11M +7.3%
Largest transactions
Shares Bought/sold Change
FMR 1.02M -929.38K -47.6%
MCQEF Macquarie 3.18M +855.24K +36.8%
Norges Bank 0 -799.06K EXIT
BNP Paribas Asset Management Holding 221.81K +221.81K NEW
Brown Advisory 0 -185.18K EXIT
Vanguard 6.31M +156.41K +2.5%
BLK BlackRock 5.08M +126.45K +2.6%
Millennium Management 101.94K -115.68K -53.2%
STT State Street 1.42M +93.11K +7.0%
Two Sigma Investments 20.16K -92.37K -82.1%

Financial report summary

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Risks
  • NEGATIVE ECONOMIC FACTORS MAY ADVERSELY AFFECT WESBANCO’S FINANCIAL PERFORMANCE.
  • MARKET VOLATILITY AND PROLONGED PERIODS OF ECONOMIC STRESS MAY AFFECT WESBANCO’S CAPITAL AND LIQUIDITY.
Management Discussion
  • Net income for the three months ended March 31, 2020 was $23.4 million, with diluted earnings per share of $0.35, compared to $40.3 million and $0.74 per diluted share, respectively, for the first quarter of 2019.  Net income excluding after-tax merger-related expenses for the three months ended March 31, 2020, was $27.5 million, or $0.41 per diluted share, as compared to $42.8 million and $0.78 per diluted share, respectively, in the prior year quarter (non-GAAP measures).
  • Net interest income increased $21.8 million or 22.2% in the first quarter of 2020 compared to the same quarter of 2019 due to a 26.0% increase in average earning assets, due primarily to the OLBK acquisition.  As a result of five federal funds rate decreases totaling 225 basis points from July 2019 to March 2020, the yield on earning assets decreased a total of 26 basis points and the cost of interest bearing liabilities decreased 15 basis points from the first quarter of 2019 to the same period of 2020. This resulted in the net interest margin decreasing by 14 basis points to 3.54% in the first quarter of 2020 compared to 3.68% in the first quarter of 2019.  Average loan balances increased by 35.5% from the first quarter of 2019, while average deposits increased by 24.6%, both mainly attributable to the OLBK acquisition.  Lastly, accretion from acquisitions benefited the first quarter net interest margin by 22 basis points, as compared to 19 basis points in the prior year period and 22 basis points during the fourth quarter of 2019.
  • The provision for credit losses increased to $29.8 million in the first quarter of 2020, due specifically to the implementation of the CECL accounting standard on January 1, 2020, and the effect of the COVID-19 pandemic. Net charge-offs, as a percentage of average portfolio loans, were 0.18% and 0.07% for the first quarter of 2020 and 2019, respectively.
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