WesBanco (NASDAQ:WSBC) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

WesBanco (NASDAQ:WSBC) issued its earnings results on Friday. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04), Briefing.com reports. WesBanco had a net margin of 17.52% and a return on equity of 6.50%. The business had revenue of $234.35 million for the quarter, compared to analysts’ expectations of $148.40 million. During the same quarter in the prior year, the business posted $0.71 earnings per share.

WesBanco Stock Performance

WSBC opened at $32.78 on Monday. The company’s 50 day moving average is $28.35 and its 200 day moving average is $28.60. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 13.66 and a beta of 0.84. WesBanco has a 12-month low of $23.00 and a 12-month high of $34.85.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Friday, June 7th. WesBanco’s payout ratio is currently 60.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WSBC shares. Hovde Group dropped their price objective on WesBanco from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price target on shares of WesBanco in a research note on Tuesday, April 9th. Finally, Stephens decreased their price objective on shares of WesBanco from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, WesBanco presently has a consensus rating of “Hold” and an average target price of $30.60.

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.