WesBanco (NASDAQ:WSBC) Announces Quarterly Earnings Results

WesBanco (NASDAQ:WSBC) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.56 earnings per share 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 business had revenue of $225.96 million during the quarter, compared to analysts’ expectations of $147.81 million. During the same quarter last year, the business posted $0.71 earnings per share.

WesBanco Stock Performance

NASDAQ:WSBC opened at $29.00 on Wednesday. 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 firm has a market cap of $1.72 billion, a PE ratio of 11.55 and a beta of 0.86. The firm has a 50 day simple moving average of $28.64 and a 200-day simple moving average of $28.23. WesBanco has a 1-year low of $19.84 and a 1-year high of $32.20.

WesBanco Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 4.97%. WesBanco’s dividend payout ratio is currently 57.37%.

Analyst Upgrades and Downgrades

WSBC has been the subject of several recent research reports. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 target price on shares of WesBanco in a report 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 objective for the company in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.