WesBanco (NASDAQ:WSBC) Posts Earnings Results, Meets Estimates

WesBanco (NASDAQ:WSBC) issued its quarterly 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. 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 period in the prior year, the firm posted $0.71 earnings per share.

WesBanco Trading Down 2.5 %

WSBC opened at $28.28 on Thursday. 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 company’s 50 day simple moving average is $28.64 and its two-hundred day simple moving average is $28.23. WesBanco has a 1-year low of $19.84 and a 1-year high of $32.20. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.78 and a beta of 0.86.

WesBanco Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WSBC shares. Hovde Group reduced their price target on WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday. Raymond James raised WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Friday, January 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $32.00 price target on shares of WesBanco in a research report on Tuesday, April 9th. Finally, Stephens reaffirmed an “equal weight” rating and set a $30.00 price target on shares of WesBanco in a research report on Wednesday. One investment 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, the stock currently has an average rating of “Hold” and an average target price 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.