Analysts Expect WesBanco Inc (NASDAQ:WSBC) Will Post Quarterly Sales of $127.44 Million
Wall Street analysts expect WesBanco Inc (NASDAQ:WSBC) to post sales of $127.44 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for WesBanco’s earnings, with the highest sales estimate coming in at $128.60 million and the lowest estimate coming in at $125.10 million. WesBanco posted sales of $105.76 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.5%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, July 23rd.
According to Zacks, analysts expect that WesBanco will report full-year sales of $511.38 million for the current financial year, with estimates ranging from $507.80 million to $516.20 million. For the next financial year, analysts anticipate that the company will report sales of $521.29 million, with estimates ranging from $506.72 million to $529.30 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for WesBanco.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.02). WesBanco had a net margin of 27.17% and a return on equity of 8.92%. The firm had revenue of $126.13 million for the quarter, compared to the consensus estimate of $127.68 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The company’s revenue was up 29.7% compared to the same quarter last year.
WSBC stock traded down $0.06 during midday trading on Tuesday, hitting $37.55. The company’s stock had a trading volume of 6,102 shares, compared to its average volume of 171,879. The company’s 50-day moving average is $36.85. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. WesBanco has a 1 year low of $34.14 and a 1 year high of $51.12. The stock has a market cap of $2.06 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.13.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.30%. WesBanco’s payout ratio is 38.63%.
A number of hedge funds and other institutional investors have recently made changes to their positions in WSBC. Norges Bank bought a new position in WesBanco in the 4th quarter worth about $27,101,000. Wesbanco Bank Inc. increased its stake in WesBanco by 11.2% in the 1st quarter. Wesbanco Bank Inc. now owns 1,817,347 shares of the financial services provider’s stock worth $72,239,000 after acquiring an additional 182,766 shares during the last quarter. BlackRock Inc. increased its stake in WesBanco by 4.0% in the 4th quarter. BlackRock Inc. now owns 3,840,406 shares of the financial services provider’s stock worth $140,906,000 after acquiring an additional 148,054 shares during the last quarter. Geode Capital Management LLC increased its stake in WesBanco by 12.3% in the 4th quarter. Geode Capital Management LLC now owns 656,303 shares of the financial services provider’s stock worth $24,079,000 after acquiring an additional 71,920 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new position in WesBanco in the 1st quarter worth about $1,988,000. Institutional investors and hedge funds own 57.50% of the company’s stock.
WesBanco Company Profile
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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