Zacks: Analysts Expect WesBanco, Inc. (NASDAQ:WSBC) Will Post Quarterly Sales of $138.28 Million

Equities research analysts forecast that WesBanco, Inc. (NASDAQ:WSBCGet Rating) will post $138.28 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for WesBanco’s earnings. The lowest sales estimate is $134.77 million and the highest is $141.40 million. WesBanco reported sales of $149.69 million during the same quarter last year, which indicates a negative year over year growth rate of 7.6%. The business is expected to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that WesBanco will report full year sales of $556.48 million for the current financial year, with estimates ranging from $549.08 million to $566.35 million. For the next year, analysts anticipate that the firm will report sales of $581.64 million, with estimates ranging from $568.03 million to $598.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover WesBanco.

WesBanco (NASDAQ:WSBCGet Rating) last posted its earnings results on Tuesday, April 26th. The financial services provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.07. The firm had revenue of $138.09 million for the quarter, compared to the consensus estimate of $139.13 million. WesBanco had a net margin of 39.22% and a return on equity of 9.32%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS.

WSBC has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Friday, April 1st. StockNews.com began coverage on shares of WesBanco in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, B. Riley reduced their target price on shares of WesBanco from $35.00 to $32.00 in a research report on Tuesday, April 12th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.25.

WSBC stock opened at $32.78 on Wednesday. WesBanco has a one year low of $30.21 and a one year high of $39.87. The stock has a market capitalization of $2.01 billion, a PE ratio of 9.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 0.80. The company has a fifty day moving average of $34.82 and a 200-day moving average of $35.39.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 11th were issued a $0.34 dividend. The ex-dividend date was Thursday, March 10th. This represents a $1.36 dividend on an annualized basis and a yield of 4.15%. This is an increase from WesBanco’s previous quarterly dividend of $0.33. WesBanco’s dividend payout ratio is currently 38.64%.

In other WesBanco news, Director Joseph R. Robinson bought 3,000 shares of the stock in a transaction dated Thursday, January 27th. The stock was bought at an average cost of $34.80 per share, for a total transaction of $104,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan D. Dargusch sold 1,121 shares of WesBanco stock in a transaction dated Tuesday, February 8th. The stock was sold at an average price of $36.93, for a total value of $41,398.53. The disclosure for this sale can be found here. Corporate insiders own 3.15% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Truist Financial Corp increased its position in shares of WesBanco by 2.8% during the 3rd quarter. Truist Financial Corp now owns 11,009 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 297 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of WesBanco by 1.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 29,659 shares of the financial services provider’s stock valued at $1,038,000 after acquiring an additional 433 shares during the period. Swiss National Bank lifted its position in shares of WesBanco by 0.3% during the 3rd quarter. Swiss National Bank now owns 148,745 shares of the financial services provider’s stock valued at $5,069,000 after acquiring an additional 500 shares during the period. Carolina Wealth Advisors LLC lifted its position in shares of WesBanco by 9.4% during the 1st quarter. Carolina Wealth Advisors LLC now owns 6,689 shares of the financial services provider’s stock worth $230,000 after buying an additional 572 shares during the last quarter. Finally, Cetera Advisors LLC lifted its position in shares of WesBanco by 5.7% during the 3rd quarter. Cetera Advisors LLC now owns 10,759 shares of the financial services provider’s stock worth $367,000 after buying an additional 583 shares during the last quarter. Hedge funds and other institutional investors own 60.15% of the company’s stock.

WesBanco Company Profile (Get Rating)

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit.

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Earnings History and Estimates for WesBanco (NASDAQ:WSBC)

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