WesBanco (NASDAQ:WSBC) Releases Earnings Results, Hits Estimates

WesBanco (NASDAQ:WSBC) released its earnings results on Tuesday. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56, Briefing.com reports. The business had revenue of $225.96 million for the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a return on equity of 6.54% and a net margin of 17.52%. During the same quarter in the previous year, the business earned $0.71 earnings per share.

WesBanco Price Performance

NASDAQ WSBC traded up $0.06 on Friday, hitting $27.82. 6,533 shares of the company’s stock were exchanged, compared to its average volume of 199,721. The stock has a 50-day moving average of $28.64 and a 200-day moving average of $28.23. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 11.57 and a beta of 0.86. WesBanco has a 52 week low of $19.84 and a 52 week high of $32.20. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.18%. The ex-dividend date was Thursday, March 7th. WesBanco’s payout ratio is presently 60.00%.

Analysts Set New Price Targets

WSBC has been the subject of several research analyst reports. Raymond James raised shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Friday, January 5th. Stephens decreased their target price on WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday. Hovde Group dropped their price target on WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 price objective on shares of WesBanco in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, WesBanco has a consensus rating of “Hold” and an average target price of $30.67.

About WesBanco

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.