WesBanco reports lower Q4 net income, beats revenue forecasts

WHEELING, WV – WesBanco (NASDAQ:) Inc. disclosed its fourth-quarter earnings, revealing a decline in net income to $32.4 million, with earnings per share (EPS) at 55 cents. This figure did not meet the expectations of Wall Street analysts, who had anticipated an EPS of 57 cents.

Nonetheless, the regional bank’s financial performance showcased resilience in other areas, as it exceeded revenue estimates with a reported net revenue of $149.1 million for the quarter.

InvestingPro Insights

In light of WesBanco Inc.’s recent earnings report, a deeper dive into the company’s performance and outlook is essential for investors. According to InvestingPro data, WesBanco’s market capitalization stands at $1.79 billion, with a P/E ratio of 10.82, reflecting a modest valuation in the current market. Despite a slight revenue growth of 0.35% over the last twelve months as of Q3 2023, the company has experienced a quarterly revenue decline of 9.57%.

InvestingPro Tips highlight WesBanco’s commitment to shareholder returns, having raised its dividend for 13 consecutive years and maintained dividend payments for an impressive 47 years. This is underscored by a robust dividend yield of 4.72% as of the end of 2023. However, analysts have revised their earnings forecasts downwards for the upcoming period, and the company is contending with weak gross profit margins. On a positive note, WesBanco has been profitable over the last twelve months, and analysts remain optimistic about its profitability for the year.

For investors seeking comprehensive analysis, the InvestingPro platform offers additional insights and metrics. There are currently 7 additional InvestingPro Tips available for WesBanco, which can be accessed by subscribing to InvestingPro+. To take advantage of the special New Year sale, with discounts of up to 50%, use coupon code SFY24 for an additional 10% off a 2-year subscription, or SFY241 for an additional 10% off a 1-year subscription. These offers provide a valuable opportunity for investors to gain an edge in their investment strategy.

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