$98.37 Million in Sales Expected for WesBanco, Inc. (WSBC) This Quarter
Wall Street analysts forecast that WesBanco, Inc. (NASDAQ:WSBC) will announce sales of $98.37 million for the current quarter, Zacks reports. Four analysts have issued estimates for WesBanco’s earnings, with the highest sales estimate coming in at $99.28 million and the lowest estimate coming in at $95.88 million. WesBanco reported sales of $83.04 million in the same quarter last year, which indicates a positive year over year growth rate of 18.5%. The company is expected to issue its next earnings results on Tuesday, October 24th.
On average, analysts expect that WesBanco will report full-year sales of $98.37 million for the current fiscal year, with estimates ranging from $379.78 million to $393.12 million. For the next fiscal year, analysts anticipate that the business will post sales of $409.74 million per share, with estimates ranging from $394.10 million to $416.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for WesBanco.
WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.01. WesBanco had a net margin of 23.44% and a return on equity of 7.55%. The firm had revenue of $94.26 million during the quarter, compared to analyst estimates of $96.70 million. During the same quarter last year, the business posted $0.58 earnings per share.
Several research firms recently weighed in on WSBC. Zacks Investment Research cut shares of WesBanco from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. FBR & Co restated a “mkt perform” rating and set a $40.00 price target (down from $44.00) on shares of WesBanco in a report on Thursday, July 20th. BidaskClub cut shares of WesBanco from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. ValuEngine upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, DA Davidson upgraded shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $41.60.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WSBC. BlackRock Inc. boosted its position in WesBanco by 25,298.2% in the first quarter. BlackRock Inc. now owns 2,653,602 shares of the financial services provider’s stock worth $101,129,000 after buying an additional 2,643,154 shares during the last quarter. Teachers Advisors LLC boosted its position in WesBanco by 386.8% in the second quarter. Teachers Advisors LLC now owns 345,534 shares of the financial services provider’s stock worth $13,662,000 after buying an additional 274,555 shares during the last quarter. Eaton Vance Management bought a new position in WesBanco during the second quarter worth $9,783,000. Vanguard Group Inc. boosted its position in WesBanco by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,461,403 shares of the financial services provider’s stock worth $131,915,000 after buying an additional 152,785 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in WesBanco by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,322,353 shares of the financial services provider’s stock worth $126,615,000 after buying an additional 132,877 shares during the last quarter. Hedge funds and other institutional investors own 56.07% of the company’s stock.
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Shares of WesBanco (WSBC) opened at 36.69 on Wednesday. WesBanco has a 52 week low of $31.09 and a 52 week high of $44.19. The firm has a market capitalization of $1.62 billion, a P/E ratio of 16.76 and a beta of 0.94. The company has a 50-day moving average of $38.76 and a 200 day moving average of $39.03.
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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