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. Parties interested in registering for the company’s conference call can do so using this link.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The firm had revenue of $221.47 million during the quarter, compared to analysts’ expectations of $146.70 million. WesBanco had a return on equity of 6.94% and a net margin of 19.11%. 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

NASDAQ:WSBC opened at $27.27 on Tuesday. 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 company has a market capitalization of $1.62 billion, a P/E ratio of 10.86 and a beta of 0.86. WesBanco has a 12 month low of $19.84 and a 12 month high of $32.20. The business’s 50-day moving average is $28.68 and its 200 day moving average is $28.08.

WesBanco Dividend Announcement

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 was Thursday, March 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.28%. WesBanco’s dividend payout ratio is currently 57.37%.

Institutional Investors Weigh In On WesBanco

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in WesBanco in the fourth quarter worth approximately $19,533,000. Nuveen Asset Management LLC grew its stake in WesBanco by 29.2% in the second 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 bought a new position in WesBanco in the third quarter worth approximately $2,432,000. Vanguard Group Inc. grew its stake in WesBanco by 1.3% in the first 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. grew its stake in WesBanco by 40.6% in the first 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. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WSBC has been the topic of a number of recent research reports. Raymond James upgraded WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research report on Friday, January 5th. 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. One equities 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.