Equities analysts predict that WesBanco Inc (NASDAQ:WSBC) will post sales of $103.37 million for the current quarter, according to Zacks. Four analysts have made estimates for WesBanco’s earnings. The lowest sales estimate is $102.20 million and the highest is $105.13 million. WesBanco reported sales of $94.26 million in the same quarter last year, which indicates a positive year over year growth rate of 9.7%. The company is scheduled to announce its next quarterly earnings report on Wednesday, July 18th.
On average, analysts expect that WesBanco will report full year sales of $431.81 million for the current year, with estimates ranging from $430.11 million to $433.20 million. For the next financial year, analysts forecast that the business will post sales of $512.89 million per share, with estimates ranging from $494.16 million to $524.98 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for WesBanco.
WesBanco (NASDAQ:WSBC) last posted its quarterly earnings results on Tuesday, April 17th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. The company had revenue of $97.27 million for the quarter, compared to analyst estimates of $96.77 million. WesBanco had a net margin of 23.81% and a return on equity of 8.29%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded WesBanco from a “hold” rating to a “sell” rating in a research note on Friday, March 30th. BidaskClub raised WesBanco from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. ValuEngine downgraded WesBanco from a “buy” rating to a “hold” rating in a research note on Friday, May 4th. Finally, B. Riley lifted their target price on WesBanco from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, June 19th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $45.80.
WesBanco opened at $45.91 on Friday, according to MarketBeat.com. WesBanco has a 52-week low of $35.49 and a 52-week high of $48.37. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 1.50 and a beta of 0.93.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 2nd. Shareholders of record on Friday, June 8th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Thursday, June 7th. WesBanco’s payout ratio is 47.35%.
In other WesBanco news, EVP Stephen J. Lawrence sold 2,000 shares of WesBanco stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $47.41, for a total value of $94,820.00. Following the sale, the executive vice president now owns 7,345 shares of the company’s stock, valued at approximately $348,226.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.14% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in WesBanco by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,661,482 shares of the financial services provider’s stock worth $154,881,000 after acquiring an additional 77,476 shares during the last quarter. BlackRock Inc. increased its stake in WesBanco by 2.3% in the 4th quarter. BlackRock Inc. now owns 2,813,716 shares of the financial services provider’s stock worth $114,377,000 after acquiring an additional 64,509 shares during the last quarter. Earnest Partners LLC increased its stake in WesBanco by 1.8% in the 1st quarter. Earnest Partners LLC now owns 1,755,912 shares of the financial services provider’s stock worth $74,275,000 after acquiring an additional 31,177 shares during the last quarter. Northern Trust Corp increased its stake in WesBanco by 0.4% in the 1st quarter. Northern Trust Corp now owns 925,271 shares of the financial services provider’s stock worth $39,140,000 after acquiring an additional 3,700 shares during the last quarter. Finally, River Road Asset Management LLC boosted its holdings in shares of WesBanco by 13.3% in the 1st quarter. River Road Asset Management LLC now owns 733,571 shares of the financial services provider’s stock worth $31,030,000 after purchasing an additional 86,285 shares during the period. 57.78% of the stock is currently owned by institutional investors and hedge funds.
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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