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

WesBanco (NASDAQ:WSBC) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56, Briefing.com reports. The company had revenue of $225.96 million for the quarter, compared to analysts’ expectations of $147.81 million. WesBanco had a net margin of 19.11% and a return on equity of 6.94%. During the same quarter in the previous year, the company earned $0.71 earnings per share.

WesBanco Price Performance

WesBanco stock traded down $0.71 during midday trading on Wednesday, reaching $28.29. 9,601 shares of the stock traded hands, compared to its average volume of 199,285. The stock’s fifty day moving average is $28.64 and its 200-day moving average is $28.23. WesBanco has a 12 month low of $19.84 and a 12 month high of $32.20. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a market cap of $1.68 billion, a P/E ratio of 11.27 and a beta of 0.86.

WesBanco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.44 annualized dividend and a dividend yield of 5.09%. WesBanco’s dividend payout ratio is presently 57.37%.

Analysts Set New Price Targets

A number of equities analysts have commented on WSBC shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a research note on Tuesday, April 9th. Raymond James raised shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.75.

WesBanco Company Profile

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.