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WHEELS, WV – WesBanco (NASDAQ:) Inc. revealed its fourth-quarter earnings, revealing a decline in net income to $32.4 million, with earnings per share (EPS) of 55 cents. This figure did not meet the expectations of Wall Street analysts, who had forecast an earnings per share of 57 cents.
However, the regional bank's financial performance showed resilience in other areas, as it beat revenue estimates with reported net income of $149.1 million for the quarter.
InvestingPro Insights
In light of WesBanco Inc.'s recent earnings report, it is essential for investors to delve deeper into the company's performance and prospects. According to data from InvestingPro, 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 slight revenue growth of 0.35% in the trailing twelve months to Q3 2023, the company has seen a quarterly revenue decline of 9.57%.
InvestingPro's advice highlights WesBanco's commitment to shareholder returns, having increased its dividend for 13 consecutive years and maintaining dividend payments for an impressive 47 years. This is underlined by a strong dividend yield of 4.72% at the end of 2023. However, analysts have revised down their profit forecasts for the coming period and the company faces weak gross profit margins. On a positive note, WesBanco has been profitable over the past twelve months and analysts remain optimistic about its profitability for the year.
For investors looking for comprehensive analysis, the InvestingPro platform offers additional information 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's offer, with discounts of up to 50%, use the coupon code SFY24 to get an extra 10% off a 2-year subscription, or SFY241 to get an additional 10% discount on a 1-year subscription. These offerings provide a valuable opportunity for investors to gain an advantage in their investment strategy.
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