WesBanco: 1Q Earnings Snapshot
WHEELING, W.Va. (AP) _ WesBanco Inc. (WSBC) on Monday reported first-quarter net income of $23.4 million.
The bank, based in Wheeling, West Virginia, said it had earnings of 35 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 41 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The holding company for WesBanco Bank posted revenue of $170.5 million in the period. Its revenue net of interest expense was $148.2 million, which beat Street forecasts. Three analysts surveyed by Zacks expected $147.2 million.
WesBanco shares have decreased 34% since the beginning of the year. In the final minutes of trading on Monday, shares hit $24.83, a fall of 38% in the last 12 months.