Q2 2024 Earnings Forecast for WesBanco, Inc. Issued By DA Davidson (NASDAQ:WSBC)

WesBanco, Inc. (NASDAQ:WSBC) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for WesBanco in a report released on Thursday, April 25th. DA Davidson analyst M. Navas anticipates that the financial services provider will post earnings per share of $0.56 for the quarter. The consensus estimate for WesBanco’s current full-year earnings is $2.27 per share. DA Davidson also issued estimates for WesBanco’s FY2024 earnings at $2.30 EPS.

WSBC has been the subject of several other reports. Raymond James upgraded WesBanco from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Friday, January 5th. Hovde Group dropped their price objective on WesBanco from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday. Stephens reduced their price objective on WesBanco from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $32.00 target price on shares of WesBanco in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.60.

WesBanco Stock Performance

NASDAQ WSBC opened at $27.52 on Friday. The firm’s 50 day simple moving average is $28.60 and its 200 day simple moving average is $28.22. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 11.47 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. WesBanco has a 1 year low of $19.84 and a 1 year high of $32.20.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. The firm had revenue of $225.96 million for 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 period in the prior year, the company posted $0.71 earnings per share.

Hedge Funds Weigh In On WesBanco

Large investors have recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. acquired a new position in shares of WesBanco in the fourth quarter valued at approximately $31,000. Principal Securities Inc. acquired a new position in WesBanco in the 4th quarter valued at approximately $43,000. Sound Income Strategies LLC raised its stake in shares of WesBanco by 2,688.7% during the fourth quarter. Sound Income Strategies LLC now owns 1,478 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,425 shares during the last quarter. EMC Capital Management acquired a new position in shares of WesBanco during the third quarter worth $51,000. Finally, TFO Wealth Partners LLC lifted its holdings in shares of WesBanco by 26,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,156 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 3,144 shares during the period. 61.41% of the stock is currently owned by institutional investors.

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 $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date was Thursday, March 7th. WesBanco’s payout ratio is 60.00%.

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.