Regional banking company WesBanco (NASDAQ: WSBC) met Wall Streets revenue expectations in Q4 CY2025, with sales up 62.6% year on year to $265.6 million. Its non-GAAP profit of $0.84 per share was 1.2% below analysts’ consensus estimates.
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WesBanco (WSBC) Q4 CY2025 Highlights:
- Net Interest Income: $222.3 million vs analyst estimates of $221.7 million (75.7% year-on-year growth, in line)
- Net Interest Margin: 3.6% vs analyst estimates of 3.6% (3.6 basis point beat)
- Revenue: $265.6 million vs analyst estimates of $265.8 million (62.6% year-on-year growth, in line)
- Efficiency Ratio: 51.6% vs analyst estimates of 54.6% (295.5 basis point beat)
- Adjusted EPS: $0.84 vs analyst expectations of $0.85 (1.2% miss)
- Tangible Book Value per Share: $22.01 vs analyst estimates of $21.70 (3.2% year-on-year decline, 1.4% beat)
- Market Capitalization: $3.35 billion
"2025 was another year of disciplined growth and strong execution for WesBanco as we continued our transformation into a regional financial services partner through our successful acquisition and integration of Premier Financial and its customers," said Jeff Jackson, President and Chief Executive Officer.
Company Overview
Tracing its roots back to 1870 in West Virginia, WesBanco (NASDAQ: WSBC) is a bank holding company that provides retail and commercial banking, trust services, insurance, and investment products through its subsidiaries across several Midwestern and Mid-Atlantic states.
Sales Growth
Two primary revenue streams drive bank earnings. While net interest income, which is earned by charging higher rates on loans than paid on deposits, forms the foundation, fee-based services across banking, credit, wealth management, and trading operations provide additional income. Over the last five years, WesBanco grew its revenue at a mediocre 10% compounded annual growth rate. This fell short of our benchmark for the banking sector and is a poor baseline for our analysis.
We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. WesBanco’s annualized revenue growth of 27.4% over the last two years is above its five-year trend, suggesting its demand recently accelerated. 
Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, WesBanco’s year-on-year revenue growth of 62.6% was magnificent, and its $265.6 million of revenue was in line with Wall Street’s estimates.
Net interest income made up 79.6% of the company’s total revenue during the last five years, meaning lending operations are WesBanco’s largest source of revenue.
Net interest income commands greater market attention due to its reliability and consistency, whereas non-interest income is often seen as lower-quality revenue that lacks the same dependable characteristics.
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Tangible Book Value Per Share (TBVPS)
The balance sheet drives banking profitability since earnings flow from the spread between borrowing and lending rates. As such, valuations for these companies concentrate on capital strength and sustainable equity accumulation potential.
This is why we consider tangible book value per share (TBVPS) the most important metric to track for banks. TBVPS represents the real, liquid net worth per share of a bank, excluding intangible assets that have debatable value upon liquidation. On the other hand, EPS is often distorted by mergers and flexible loan loss accounting. TBVPS provides clearer performance insights.
WesBanco’s TBVPS was flat over the last five years. However, TBVPS growth has accelerated recently, growing by 2% annually over the last two years from $21.16 to $22.01 per share.
Over the next 12 months, Consensus estimates call for WesBanco’s TBVPS to grow by 10% to $24.22, mediocre growth rate.
Key Takeaways from WesBanco’s Q4 Results
It was good to see WesBanco narrowly top analysts’ tangible book value per share expectations this quarter. On the other hand, its EPS slightly missed. Overall, this quarter could have been better. The stock remained flat at $35.23 immediately following the results.
Big picture, is WesBanco a buy here and now? We think that the latest quarter is only one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here (it’s free).
