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Compared to Estimates, WesBanco (WSBC) Q2 Earnings: A Look at Key Metrics
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WesBanco (WSBC - Free Report) reported $154.66 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 11.1%. EPS of $0.71 for the same period compares to $0.67 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $152.71 million, representing a surprise of +1.28%. The company delivered an EPS surprise of +4.41%, with the consensus EPS estimate being $0.68.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how WesBanco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.18% versus 3.24% estimated by three analysts on average.
Efficiency Ratio: 62.33% versus the three-analyst average estimate of 62.02%.
Net charge-offs to average loans: 0.02% compared to the 0.12% average estimate based on two analysts.
Average Balance - Total interest earning assets: $15.49 billion versus $15.35 billion estimated by two analysts on average.
Total Non-Interest Income: $31.84 million compared to the $25.15 million average estimate based on three analysts.
Electronic banking fees: $5.01 million versus $4.92 million estimated by two analysts on average.
Bank-owned life insurance: $2.52 million compared to the $1.98 million average estimate based on two analysts.
Other income: $6.29 million versus the two-analyst average estimate of $4.53 million.
Service charges on deposits: $6.23 million versus $6.40 million estimated by two analysts on average.
Mortgage banking income: $0.60 million compared to the $0.78 million average estimate based on two analysts.
Net securities brokerage revenue: $2.52 million versus the two-analyst average estimate of $2.79 million.
Net Interest Income (FTE): $122.82 million versus the two-analyst average estimate of $123.89 million.
Shares of WesBanco have returned +14.9% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, WesBanco (WSBC) Q2 Earnings: A Look at Key Metrics
WesBanco (WSBC - Free Report) reported $154.66 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 11.1%. EPS of $0.71 for the same period compares to $0.67 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $152.71 million, representing a surprise of +1.28%. The company delivered an EPS surprise of +4.41%, with the consensus EPS estimate being $0.68.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how WesBanco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.18% versus 3.24% estimated by three analysts on average.
- Efficiency Ratio: 62.33% versus the three-analyst average estimate of 62.02%.
- Net charge-offs to average loans: 0.02% compared to the 0.12% average estimate based on two analysts.
- Average Balance - Total interest earning assets: $15.49 billion versus $15.35 billion estimated by two analysts on average.
- Total Non-Interest Income: $31.84 million compared to the $25.15 million average estimate based on three analysts.
- Electronic banking fees: $5.01 million versus $4.92 million estimated by two analysts on average.
- Bank-owned life insurance: $2.52 million compared to the $1.98 million average estimate based on two analysts.
- Other income: $6.29 million versus the two-analyst average estimate of $4.53 million.
- Service charges on deposits: $6.23 million versus $6.40 million estimated by two analysts on average.
- Mortgage banking income: $0.60 million compared to the $0.78 million average estimate based on two analysts.
- Net securities brokerage revenue: $2.52 million versus the two-analyst average estimate of $2.79 million.
- Net Interest Income (FTE): $122.82 million versus the two-analyst average estimate of $123.89 million.
View all Key Company Metrics for WesBanco here>>>Shares of WesBanco have returned +14.9% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.