WesBanco (NASDAQ:WSBC) Issues Quarterly Earnings Results

WesBanco (NASDAQ:WSBC) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56, Briefing.com reports. The firm had revenue of $225.96 million during 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 last year, the company earned $0.71 earnings per share.

WesBanco Stock Performance

NASDAQ WSBC traded up $0.06 on Friday, reaching $27.82. 6,533 shares of the stock were exchanged, compared to its average volume of 199,721. The firm has a market capitalization of $1.65 billion, a PE ratio of 11.57 and a beta of 0.86. WesBanco has a one year low of $19.84 and a one year high of $32.20. The company’s 50-day simple moving average is $28.64 and its two-hundred day simple moving average is $28.23. 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 Announces Dividend

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

Analyst Ratings Changes

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