WesBanco, Inc. (WSBC) Expected to Announce Quarterly Sales of $98.37 Million
Brokerages expect that WesBanco, Inc. (NASDAQ:WSBC) will post $98.37 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for WesBanco’s earnings. The highest sales estimate is $99.28 million and the lowest is $95.88 million. WesBanco posted sales of $83.04 million during the same quarter last year, which suggests a positive year over year growth rate of 18.5%. The company is expected to issue its next earnings results after the market closes on Wednesday, October 18th.
According to Zacks, 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 year, analysts anticipate that the firm will report sales of $409.74 million per share, with estimates ranging from $394.10 million to $416.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover WesBanco.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share 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 company had revenue of $94.26 million for the quarter, compared to the consensus estimate of $96.70 million. During the same quarter in the prior year, the company earned $0.58 earnings per share.
Several brokerages have issued reports on WSBC. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $41.00 target price on shares of WesBanco in a research report on Tuesday, October 3rd. BidaskClub cut WesBanco from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded WesBanco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, FBR & Co decreased their price objective on WesBanco from $44.00 to $40.00 and set a “mkt perform” rating on the stock in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.00.
In other news, EVP Brent E. Richmond sold 1,440 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $36.83, for a total value of $53,035.20. Following the transaction, the executive vice president now owns 22,701 shares of the company’s stock, valued at $836,077.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.05% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of WSBC. Ameritas Investment Partners Inc. bought a new position in shares of WesBanco in the first quarter worth about $132,000. Smithfield Trust Co. bought a new position in shares of WesBanco in the second quarter worth about $138,000. Sei Investments Co. raised its stake in shares of WesBanco by 4,236.6% in the second quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock worth $174,000 after buying an additional 4,279 shares during the period. Amalgamated Bank bought a new position in shares of WesBanco in the second quarter worth about $211,000. Finally, Victory Capital Management Inc. raised its stake in shares of WesBanco by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,350 shares of the financial services provider’s stock worth $212,000 after buying an additional 801 shares during the period. 57.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WesBanco (WSBC) traded down 0.61% during midday trading on Wednesday, hitting $42.21. The stock had a trading volume of 19,971 shares. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 19.36 and a beta of 0.96. The stock’s 50 day moving average price is $38.89 and its 200 day moving average price is $38.66. WesBanco has a 12 month low of $32.06 and a 12 month high of $44.19.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, September 7th. WesBanco’s dividend payout ratio (DPR) is currently 47.71%.
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WesBanco Company Profile
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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