WesBanco Q3 adjusted EPS beats estimates, driven by loan growth and higher yields
WSBC•WesBanco reported third-quarter adjusted EPS of $0.89, above the $0.87 analyst estimate. Net interest income rose 4.7% year over year to $226.9 million, and loans grew 8.7% on an annualized basis from the prior quarter.
1. Earnings and loan growth
WesBanco’s third-quarter adjusted EPS beat analyst expectations, at $0.89 versus a consensus estimate of $0.87. Net interest income rose 4.7% year over year to $226.9 million, while net interest margin was 3.60%. Loans grew 8.7% on an annualized basis from the prior quarter, with targeted expansion markets generating more than $400 million in new loans.
2. Fee income and costs
The company said organic loan growth more than offset elevated commercial real estate payoffs. It attributed year-over-year net interest margin improvement to lower funding costs and reported record fee income across deposit service charges, digital banking and treasury management, along with $2.8 million in new commercial swap revenue. WesBanco did not provide specific financial guidance for current or future periods.
