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

WesBanco, Inc. (NASDAQ:WSBC) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for WesBanco in a research note issued to investors on Thursday, April 25th. DA Davidson analyst M. Navas anticipates that the financial services provider will post earnings of $0.56 per share 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.

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

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

WesBanco Trading Down 0.9 %

WesBanco stock opened at $27.52 on Friday. The company has a 50 day moving average price of $28.60 and a 200 day moving average price of $28.22. 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 52 week low of $19.84 and a 52 week high of $32.20. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 11.47 and a beta of 0.86.

WesBanco Announces Dividend

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

Institutional Investors Weigh In On WesBanco

Several large investors have recently made changes to their positions in the company. Wesbanco Bank Inc. lifted its stake in shares of WesBanco by 2.4% in the 1st quarter. Wesbanco Bank Inc. now owns 1,681,782 shares of the financial services provider’s stock valued at $50,134,000 after purchasing an additional 39,808 shares during the last quarter. Founders Financial Securities LLC lifted its position in shares of WesBanco by 6.1% in the first quarter. Founders Financial Securities LLC now owns 7,612 shares of the financial services provider’s stock worth $227,000 after buying an additional 436 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of WesBanco during the 1st quarter worth about $222,000. Bridge City Capital LLC increased its holdings in shares of WesBanco by 0.8% during 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 raised its stake in shares of 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 in the last quarter. Institutional investors own 61.41% of the company’s stock.

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.