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Wesbanco, Inc. (NASDAQ:WSBC), a $3 billion market cap financial institution with a P/E ratio of 15.34, announced a forthcoming change in its independent registered public accounting firm, according to a statement filed with the Securities and Exchange Commission on Friday. According to InvestingPro analysis, the company maintains a FAIR financial health score, suggesting stable operational performance.
The company’s Audit Committee approved the dismissal of Ernst & Young LLP (EY) as Wesbanco’s auditor, effective upon the issuance of the company’s consolidated financial statements for the fiscal year ending December 31, 2025. This decision follows a request for proposal process in which multiple firms were invited to participate.
On October 22, the Audit Committee approved the appointment of Deloitte & Touche LLP as Wesbanco’s new independent auditor for the fiscal year ending December 31, 2026, and related interim periods. The appointment is subject to completion of standard client acceptance procedures and execution of an engagement letter.
Wesbanco stated that the reports of EY on its consolidated financial statements for the years ended December 31, 2024 and 2023 did not contain any adverse opinions, disclaimers of opinion, or qualifications as to uncertainty, audit scope, or accounting principles. The company also reported that there were no disagreements with EY regarding accounting principles, financial statement disclosure, or auditing procedures during the audits for those years or in the subsequent interim period through October 22, 2025.
The company has requested that EY provide a letter to the SEC stating whether it agrees with Wesbanco’s disclosures. A copy of EY’s response letter, dated October 22, 2025, was filed as an exhibit to the 8-K.
Wesbanco’s common stock and depositary shares are listed on the Nasdaq Global Select Market under the symbols WSBC, WSBCP, and WSBCO. The information in this article is based on a press release statement included in the company’s SEC filing.
In other recent news, WesBanco Inc. reported its third-quarter 2025 earnings, achieving an earnings per share (EPS) of $0.94, which exceeded analysts’ expectations of $0.88. This represents a 6.82% positive surprise in earnings. However, the company’s revenue slightly missed projections, coming in at $261.6 million compared to the anticipated $263.45 million. Despite the earnings beat, the revenue shortfall reflects a mixed financial performance for the quarter. Analysts have noted these developments, but no upgrades or downgrades have been reported from major firms following the earnings release. These recent developments highlight the ongoing challenges and opportunities faced by WesBanco.
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