WesBanco, Inc. (WSBC) Expected to Announce Quarterly Sales of $98.27 Million
Wall Street analysts forecast that WesBanco, Inc. (NASDAQ:WSBC) will post $98.27 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for WesBanco’s earnings, with estimates ranging from $97.34 million to $99.06 million. WesBanco reported sales of $93.11 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The firm is expected to issue its next earnings report on Tuesday, January 23rd.
On average, analysts expect that WesBanco will report full year sales of $98.27 million for the current year, with estimates ranging from $388.22 million to $389.80 million. For the next fiscal year, analysts forecast that the business will report sales of $404.82 million per share, with estimates ranging from $391.66 million to $412.50 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover WesBanco.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.03). The company had revenue of $95.15 million during the quarter, compared to the consensus estimate of $98.37 million. WesBanco had a return on equity of 7.71% and a net margin of 24.73%. During the same quarter last year, the company posted $0.60 earnings per share.
WSBC has been the topic of a number of research analyst reports. FBR & Co reissued a “mkt perform” rating and issued a $40.00 price target (down from $44.00) on shares of WesBanco in a report on Thursday, July 20th. Zacks Investment Research cut WesBanco from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut WesBanco from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $41.00 price target on shares of WesBanco in a report on Tuesday, October 3rd. Finally, DA Davidson set a $47.00 price target on WesBanco and gave the stock a “buy” rating in a report on Friday, October 20th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.00.
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WesBanco (NASDAQ:WSBC) opened at 41.34 on Monday. The company has a 50 day moving average of $40.29 and a 200 day moving average of $39.01. WesBanco has a 52-week low of $32.10 and a 52-week high of $44.19. The company has a market capitalization of $1.82 billion, a PE ratio of 18.89 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were issued a $0.26 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.52%. WesBanco’s dividend payout ratio is presently 44.44%.
In other news, EVP Brent E. Richmond sold 1,440 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $36.83, for a total transaction of $53,035.20. Following the sale, the executive vice president now directly owns 22,701 shares of the company’s stock, valued at approximately $836,077.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.05% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of WesBanco by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,502,925 shares of the financial services provider’s stock worth $138,505,000 after acquiring an additional 41,522 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of WesBanco by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,429,514 shares of the financial services provider’s stock worth $135,604,000 after acquiring an additional 107,161 shares in the last quarter. BlackRock Inc. raised its holdings in shares of WesBanco by 1.8% during the 2nd quarter. BlackRock Inc. now owns 2,700,401 shares of the financial services provider’s stock worth $106,773,000 after acquiring an additional 46,799 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of WesBanco by 0.8% during the 2nd quarter. Earnest Partners LLC now owns 1,509,418 shares of the financial services provider’s stock worth $59,682,000 after acquiring an additional 11,643 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of WesBanco by 3.1% during the 2nd quarter. Northern Trust Corp now owns 913,626 shares of the financial services provider’s stock worth $36,124,000 after acquiring an additional 27,552 shares in the last quarter. 57.61% of the stock is currently owned by institutional investors and hedge funds.
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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