Brokerages forecast that WesBanco Inc (NASDAQ:WSBC) will announce $0.70 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for WesBanco’s earnings. The highest EPS estimate is $0.72 and the lowest is $0.68. WesBanco reported earnings per share of $0.60 in the same quarter last year, which would suggest a positive year over year growth rate of 16.7%. The company is scheduled to announce its next earnings results after the market closes on Tuesday, April 17th.
According to Zacks, analysts expect that WesBanco will report full year earnings of $2.90 per share for the current year, with EPS estimates ranging from $2.80 to $3.04. For the next year, analysts forecast that the company will report earnings of $3.12 per share, with EPS estimates ranging from $3.05 to $3.25. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow WesBanco.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. The business had revenue of $96.12 million for the quarter, compared to the consensus estimate of $98.48 million. WesBanco had a net margin of 22.43% and a return on equity of 7.81%. During the same period in the prior year, the firm earned $0.59 earnings per share.
Several research firms have commented on WSBC. DA Davidson set a $48.00 price objective on shares of WesBanco and gave the company a “buy” rating in a report on Thursday, December 21st. BidaskClub downgraded shares of WesBanco from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. Zacks Investment Research downgraded shares of WesBanco from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of WesBanco in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $43.00.
NASDAQ WSBC traded down $0.71 during trading on Tuesday, hitting $42.25. 112,462 shares of the company’s stock traded hands, compared to its average volume of 121,195. The company has a market cap of $1,861.37, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.46 and a beta of 0.88. WesBanco has a 12-month low of $35.49 and a 12-month high of $44.78. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.80.
The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 9th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, March 8th. This is a boost from WesBanco’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a dividend yield of 2.75%. WesBanco’s dividend payout ratio is currently 47.35%.
In related news, Director Denise H. Knouse-Snyder purchased 1,575 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $41.44 per share, for a total transaction of $65,268.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $82,880. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.14% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of WesBanco by 24.8% during the third quarter. Wells Fargo & Company MN now owns 253,728 shares of the financial services provider’s stock valued at $10,408,000 after buying an additional 50,406 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of WesBanco by 3.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 205,330 shares of the financial services provider’s stock worth $8,347,000 after purchasing an additional 6,996 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of WesBanco by 26.5% in the third quarter. JPMorgan Chase & Co. now owns 13,148 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 2,751 shares during the last quarter. Systematic Financial Management LP bought a new position in shares of WesBanco in the fourth quarter worth approximately $1,519,000. Finally, California Public Employees Retirement System increased its position in shares of WesBanco by 5.6% in the third quarter. California Public Employees Retirement System now owns 57,242 shares of the financial services provider’s stock worth $2,348,000 after purchasing an additional 3,026 shares during the last quarter. Hedge funds and other institutional investors own 61.37% of the company’s stock.
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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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