WesBanco (NASDAQ:WSBC) Releases Earnings Results, Meets Expectations

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

WesBanco Price Performance

WesBanco stock opened at $28.28 on Thursday. WesBanco has a one year low of $19.84 and a one year high of $32.20. The business has a fifty day moving average price of $28.64 and a 200-day moving average price of $28.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $1.68 billion, a P/E ratio of 11.78 and a beta of 0.86.

WesBanco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Thursday, March 7th. WesBanco’s payout ratio is currently 60.00%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Hovde Group decreased their target price on WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday. Stephens reissued an “equal weight” rating and issued a $30.00 target price on shares of WesBanco in a research report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 target price on shares of WesBanco in a research report on Tuesday, April 9th. Finally, Raymond James raised WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.17.

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.