WesBanco (NASDAQ:WSBC) Announces Earnings Results

WesBanco (NASDAQ:WSBC) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate 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 in the previous year, the firm earned $0.71 EPS.

WesBanco Stock Performance

WSBC stock traded down $0.71 during midday trading on Wednesday, hitting $28.29. The company’s stock had a trading volume of 9,601 shares, compared to its average volume of 199,285. WesBanco has a 1 year low of $19.84 and a 1 year high of $32.20. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock’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 $1.68 billion, a price-to-earnings ratio of 11.27 and a beta of 0.86.

WesBanco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Thursday, March 7th. WesBanco’s payout ratio is 57.37%.

Analyst Ratings Changes

WSBC has been the subject of a number of recent research reports. Raymond James raised WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Friday, January 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $32.00 price target on shares of WesBanco in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, WesBanco has an average rating of “Hold” and an average price target 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.