WesBanco, Inc. (NASDAQ:WSBC) Forecasted to Earn Q2 2024 Earnings of $0.56 Per Share

WesBanco, Inc. (NASDAQ:WSBC) – Research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of WesBanco in a research note issued to investors on Thursday, April 25th. DA Davidson analyst M. Navas expects that the financial services provider will earn $0.56 per share for the quarter. The consensus estimate for WesBanco’s current full-year earnings is $2.25 per share. DA Davidson also issued estimates for WesBanco’s FY2024 earnings at $2.30 EPS.

A number of other equities analysts also recently commented on WSBC. Hovde Group cut their price objective on shares of WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 price objective on shares of WesBanco in a research report on Tuesday, April 9th. Raymond James upgraded 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 report on Friday, January 5th. Finally, Stephens cut their price objective on shares of WesBanco from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, WesBanco has a consensus rating of “Hold” and an average target price of $30.60.

WesBanco Stock Down 0.9 %

Shares of WesBanco stock opened at $27.52 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of 11.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. WesBanco has a one year low of $19.84 and a one year high of $32.20. The firm has a fifty day moving average of $28.57 and a two-hundred day moving average of $28.27.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. The firm had revenue of $225.96 million during the quarter, compared to the consensus estimate of $147.81 million. WesBanco had a net margin of 17.52% and a return on equity of 6.54%. During the same quarter in the prior year, the firm earned $0.71 EPS.

Hedge Funds Weigh In On WesBanco

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wesbanco Bank Inc. grew its stake in shares of WesBanco by 2.4% during the 1st quarter. Wesbanco Bank Inc. now owns 1,681,782 shares of the financial services provider’s stock worth $50,134,000 after purchasing an additional 39,808 shares during the period. Founders Financial Securities LLC grew its stake in WesBanco by 6.1% in the 1st quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 436 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in WesBanco in the 1st quarter valued at about $222,000. Bridge City Capital LLC grew its stake in WesBanco by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 84,607 shares of the financial services provider’s stock valued at $2,522,000 after acquiring an additional 663 shares during the last quarter. Finally, Moody National Bank Trust Division grew its stake in WesBanco by 17.5% in the 1st quarter. Moody National Bank Trust Division now owns 17,165 shares of the financial services provider’s stock valued at $512,000 after acquiring an additional 2,552 shares during the last quarter. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Dividend Announcement

The business 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. The ex-dividend date was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.23%. WesBanco’s dividend payout ratio (DPR) is presently 60.00%.

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.