WesBanco (WSBC) Set to Announce Earnings on Tuesday

WesBanco (NASDAQ:WSBC) is scheduled to be releasing its earnings data after the market closes on Tuesday, April 23rd. Analysts expect WesBanco to post earnings of $0.56 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Monday, January 22nd. The financial services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $221.47 million for the quarter, compared to analysts’ expectations of $146.70 million. WesBanco had a net margin of 19.11% and a return on equity of 6.94%. During the same quarter in the prior year, the firm posted $0.84 earnings per share. On average, analysts expect WesBanco to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

WesBanco Price Performance

Shares of WSBC opened at $28.34 on Friday. The firm has a market cap of $1.68 billion, a PE ratio of 11.29 and a beta of 0.86. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $28.63 and a two-hundred day simple moving average of $28.14. WesBanco has a 1-year low of $19.84 and a 1-year high of $32.20.

WesBanco Dividend Announcement

The business also recently announced 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 was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a yield of 5.08%. WesBanco’s dividend payout ratio is presently 57.37%.

Institutional Investors Weigh In On WesBanco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in WesBanco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,973,790 shares of the financial services provider’s stock worth $205,259,000 after buying an additional 75,273 shares during the period. Macquarie Group Ltd. boosted its holdings in WesBanco by 2.4% in the 1st quarter. Macquarie Group Ltd. now owns 1,868,806 shares of the financial services provider’s stock worth $57,372,000 after buying an additional 44,630 shares during the period. State Street Corp boosted its holdings in WesBanco by 2.5% in the 2nd quarter. State Street Corp now owns 1,778,723 shares of the financial services provider’s stock worth $46,142,000 after buying an additional 43,024 shares during the period. Geode Capital Management LLC boosted its holdings in WesBanco by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,209,466 shares of the financial services provider’s stock worth $30,974,000 after buying an additional 36,016 shares during the period. Finally, Bank of America Corp DE boosted its holdings in WesBanco by 6.0% in the 1st quarter. Bank of America Corp DE now owns 1,116,413 shares of the financial services provider’s stock worth $34,274,000 after buying an additional 62,971 shares during the period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WSBC shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 target price on shares of WesBanco in a research note on Tuesday, April 9th. Raymond James upgraded 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company 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.