WesBanco jumps after Q4 profit beats expectation

Wesbanco

23/01/2025 17:51

** Shares of regional lender WesBanco  WSBC.O  jump as much as 9.3%; last up 6.1% at $33.67
    ** Bank late Wednesday posted Q4 adjusted EPS of 71 cents, topping Wall Street expectation
of 55 cents — LSEG
    ** WSBC's Q4 loans were up $1 bln, or 8.7%, compared with a year earlier, driven by
commercial loan growth
    ** Q4 net interest income jumped 7.4% to $126.5 mln due to loan growth, and higher loan and
securities yields
    ** Net interest margin (NIM) — a key gauge of profitability — was 3.03% in Q4, an
improvement of 8 basis points sequentially and 1 basis point compared with a year earlier
    ** D.A. Davidson analyst Manuel Navas says WSBC is on the path to stand out on growth and
NIM expansion this year compared to its peers
    ** Raymond James says it was a strong all-round quarter coupled with solid balance sheet
growth    
    ** WSBC stock rose 3.7% in 2024


 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))