Analysts Offer Predictions for WesBanco, Inc.’s Q2 2024 Earnings (NASDAQ:WSBC)

WesBanco, Inc. (NASDAQ:WSBC) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for WesBanco in a research report issued to clients and investors on Thursday, April 25th. DA Davidson analyst M. Navas anticipates that the financial services provider will earn $0.56 per share for the quarter. The consensus estimate for WesBanco’s current full-year earnings is $2.27 per share. DA Davidson also issued estimates for WesBanco’s FY2024 earnings at $2.30 EPS.

Several other equities analysts also recently commented on WSBC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price objective on shares of WesBanco in a report on Tuesday, April 9th. Raymond James upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Friday, January 5th. Stephens decreased their price target on shares of WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Hovde Group decreased their price target on shares of WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.67.

WesBanco Price Performance

NASDAQ:WSBC opened at $27.76 on Friday. WesBanco has a one year low of $19.84 and a one year high of $32.20. The company has a market cap of $1.65 billion, a P/E ratio of 11.57 and a beta of 0.86. The firm’s fifty day moving average price is $28.64 and its two-hundred day moving average price is $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.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. The firm had revenue of $225.96 million for the quarter, compared to analyst estimates of $147.81 million. During the same period in the prior year, the firm posted $0.71 earnings per share.

Institutional Investors Weigh In On WesBanco

Large investors have recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. acquired a new stake in WesBanco during the fourth quarter worth about $31,000. Principal Securities Inc. bought a new position in shares of WesBanco in the fourth quarter worth about $43,000. Sound Income Strategies LLC lifted its holdings in shares of WesBanco by 2,688.7% in the fourth quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,425 shares during the last quarter. EMC Capital Management bought a new position in shares of WesBanco in the third quarter worth about $51,000. Finally, TFO Wealth Partners LLC lifted its holdings in shares of WesBanco by 26,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 3,144 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Announces Dividend

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 dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 5.19%. WesBanco’s payout ratio is 60.00%.

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.