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WesBanco (WSBC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2024, WesBanco (WSBC - Free Report) reported revenue of $145.81 million, down 4.9% over the same period last year. EPS came in at $0.56, compared to $0.71 in the year-ago quarter.
The reported revenue represents a surprise of -1.35% over the Zacks Consensus Estimate of $147.81 million. With the consensus EPS estimate being $0.56, the company has not delivered EPS surprise.
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: 2.9% versus 3% estimated by three analysts on average.
Efficiency Ratio: 66.7% compared to the 67.3% average estimate based on three analysts.
Annualized net loan charge-offs and recoveries /average loans: 0.2% versus 0.1% estimated by two analysts on average.
Average Balance - Total earning assets: $15.88 billion versus the two-analyst average estimate of $15.87 billion.
Total Non-Interest Income: $30.63 million compared to the $30.31 million average estimate based on three analysts.
Mortgage banking income: $0.69 million compared to the $0.81 million average estimate based on three analysts.
Bank-owned life insurance: $2.07 million versus $2.73 million estimated by two analysts on average.
Other income: $3.50 million versus the two-analyst average estimate of $3.67 million.
Service charges on deposits: $6.78 million versus the two-analyst average estimate of $6.75 million.
Net securities brokerage revenue: $2.55 million compared to the $2.78 million average estimate based on two analysts.
Digital banking income: $4.70 million compared to the $4.92 million average estimate based on two analysts.
Net interest income on a fully taxable equivalent basis: $115.19 million versus the two-analyst average estimate of $117.01 million.
Shares of WesBanco have returned +0.3% over the past month versus the Zacks S&P 500 composite's -4.2% 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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WesBanco (WSBC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, WesBanco (WSBC - Free Report) reported revenue of $145.81 million, down 4.9% over the same period last year. EPS came in at $0.56, compared to $0.71 in the year-ago quarter.
The reported revenue represents a surprise of -1.35% over the Zacks Consensus Estimate of $147.81 million. With the consensus EPS estimate being $0.56, the company has not delivered EPS surprise.
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: 2.9% versus 3% estimated by three analysts on average.
- Efficiency Ratio: 66.7% compared to the 67.3% average estimate based on three analysts.
- Annualized net loan charge-offs and recoveries /average loans: 0.2% versus 0.1% estimated by two analysts on average.
- Average Balance - Total earning assets: $15.88 billion versus the two-analyst average estimate of $15.87 billion.
- Total Non-Interest Income: $30.63 million compared to the $30.31 million average estimate based on three analysts.
- Mortgage banking income: $0.69 million compared to the $0.81 million average estimate based on three analysts.
- Bank-owned life insurance: $2.07 million versus $2.73 million estimated by two analysts on average.
- Other income: $3.50 million versus the two-analyst average estimate of $3.67 million.
- Service charges on deposits: $6.78 million versus the two-analyst average estimate of $6.75 million.
- Net securities brokerage revenue: $2.55 million compared to the $2.78 million average estimate based on two analysts.
- Digital banking income: $4.70 million compared to the $4.92 million average estimate based on two analysts.
- Net interest income on a fully taxable equivalent basis: $115.19 million versus the two-analyst average estimate of $117.01 million.
View all Key Company Metrics for WesBanco here>>>Shares of WesBanco have returned +0.3% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.