Equities analysts expect WesBanco Inc (NASDAQ:WSBC) to report sales of $96.47 million for the current quarter, Zacks reports. Four analysts have issued estimates for WesBanco’s earnings, with the lowest sales estimate coming in at $94.57 million and the highest estimate coming in at $98.00 million. WesBanco reported sales of $93.60 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The business is expected to announce its next quarterly earnings report on Tuesday, April 17th.
According to Zacks, analysts expect that WesBanco will report full-year sales of $96.47 million for the current fiscal year, with estimates ranging from $403.35 million to $416.30 million. For the next year, analysts forecast that the business will report sales of $438.03 million per share, with estimates ranging from $420.90 million to $446.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for WesBanco.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.04. WesBanco had a net margin of 22.43% and a return on equity of 7.81%. The firm had revenue of $96.12 million during the quarter, compared to analyst estimates of $98.48 million. During the same quarter in the prior year, the business posted $0.59 earnings per share.
Several analysts have weighed in on WSBC shares. Zacks Investment Research cut shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. BidaskClub cut shares of WesBanco from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. DA Davidson set a $48.00 price objective on shares of WesBanco and gave the stock a “buy” rating in a research note on Thursday, December 21st. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of WesBanco in a research note on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. WesBanco presently has a consensus rating of “Hold” and an average target price of $43.00.
In other news, Director Denise H. Knouse-Snyder acquired 1,575 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $41.44 per share, with a total value of $65,268.00. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at $82,880. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.14% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in WesBanco by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 3,477,995 shares of the financial services provider’s stock worth $142,667,000 after buying an additional 48,481 shares during the last quarter. BlackRock Inc. grew its stake in shares of WesBanco by 2.3% during the fourth quarter. BlackRock Inc. now owns 2,813,716 shares of the financial services provider’s stock valued at $114,377,000 after purchasing an additional 64,509 shares during the last quarter. Earnest Partners LLC grew its stake in shares of WesBanco by 5.0% during the fourth quarter. Earnest Partners LLC now owns 1,724,735 shares of the financial services provider’s stock valued at $70,110,000 after purchasing an additional 82,883 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of WesBanco by 11.1% during the third quarter. Macquarie Group Ltd. now owns 1,525,400 shares of the financial services provider’s stock valued at $62,572,000 after purchasing an additional 152,280 shares during the last quarter. Finally, River Road Asset Management LLC grew its stake in shares of WesBanco by 20.5% during the fourth quarter. River Road Asset Management LLC now owns 647,286 shares of the financial services provider’s stock valued at $26,312,000 after purchasing an additional 110,089 shares during the last quarter. 61.37% of the stock is currently owned by hedge funds and other institutional investors.
WesBanco stock traded down $0.54 during trading hours on Monday, reaching $43.63. 8,414 shares of the company traded hands, compared to its average volume of 114,158. WesBanco has a 52-week low of $34.81 and a 52-week high of $44.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $1,944.18, a price-to-earnings ratio of 17.94, a PEG ratio of 1.52 and a beta of 0.92.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.66%. This is a boost from WesBanco’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, March 8th. WesBanco’s dividend payout ratio is currently 53.95%.
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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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