WesBanco (WSBC) Set to Announce Quarterly Earnings on Tuesday

WesBanco (NASDAQ:WSBC) is set to announce its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

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

WesBanco Trading Up 2.8 %

Shares of NASDAQ:WSBC opened at $28.34 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. WesBanco has a 52-week low of $19.84 and a 52-week high of $32.20. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 11.29 and a beta of 0.86. The business has a 50-day moving average price of $28.63 and a 200-day moving average price of $28.17.

WesBanco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a $0.36 dividend. 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 5.08%. WesBanco’s dividend payout ratio is currently 57.37%.

Institutional Investors Weigh In On WesBanco

Several hedge funds have recently bought and sold shares of WSBC. Norges Bank purchased a new stake in WesBanco in the 4th quarter worth approximately $19,533,000. Nuveen Asset Management LLC boosted its position in WesBanco by 29.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 488,466 shares of the financial services provider’s stock worth $12,510,000 after purchasing an additional 110,397 shares in the last quarter. AQR Capital Management LLC purchased a new stake in WesBanco in the 3rd quarter worth approximately $2,432,000. Vanguard Group Inc. boosted its position 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 purchasing an additional 75,273 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in WesBanco by 40.6% in the 1st quarter. JPMorgan Chase & Co. now owns 237,008 shares of the financial services provider’s stock worth $7,276,000 after purchasing an additional 68,431 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James upgraded WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Friday, January 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 target price on shares of WesBanco in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.