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

WesBanco (NASDAQ:WSBC) announced 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. WesBanco had a return on equity of 6.94% and a net margin of 19.11%. The firm had revenue of $225.96 million for the quarter, compared to analyst estimates of $147.81 million. During the same quarter last year, the firm posted $0.71 EPS.

WesBanco Stock Performance

NASDAQ WSBC traded down $0.61 on Wednesday, reaching $28.39. The stock had a trading volume of 16,941 shares, compared to its average volume of 199,348. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. WesBanco has a 12-month low of $19.84 and a 12-month high of $32.20. The business’s 50-day moving average price is $28.64 and its 200 day moving average price is $28.23. The stock has a market cap of $1.69 billion, a P/E ratio of 11.27 and a beta of 0.86.

WesBanco Dividend Announcement

The company also recently disclosed 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 5.07%. The ex-dividend date was Thursday, March 7th. WesBanco’s dividend payout ratio is currently 57.37%.

Analyst Upgrades and Downgrades

WSBC has been the topic of several analyst reports. Raymond James upgraded WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Friday, January 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 price target on shares of WesBanco in a report on Tuesday, April 9th. One investment 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’s stock. According to data from MarketBeat, WesBanco currently has an average rating of “Hold” and an average target price of $30.75.

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.