Analysts Anticipate WesBanco, Inc. (WSBC) Will Post Quarterly Sales of $98.37 Million
Analysts expect WesBanco, Inc. (NASDAQ:WSBC) to report $98.37 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for WesBanco’s earnings, with the lowest sales estimate coming in at $95.88 million and the highest estimate coming in at $99.28 million. WesBanco posted sales of $83.04 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.5%. The business is scheduled to announce its next earnings report on Tuesday, October 24th.
On average, analysts expect that WesBanco will report full-year sales of $98.37 million for the current year, with estimates ranging from $379.78 million to $393.12 million. For the next fiscal year, analysts anticipate that the company will post sales of $409.74 million per share, with estimates ranging from $394.10 million to $416.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover WesBanco.
WesBanco (NASDAQ:WSBC) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by $0.01. The business had revenue of $94.26 million for the quarter, compared to the consensus estimate of $96.70 million. WesBanco had a return on equity of 7.55% and a net margin of 23.44%. During the same period in the previous year, the firm earned $0.58 earnings per share.
A number of research firms have weighed in on WSBC. BidaskClub upgraded shares of WesBanco from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. FBR & Co reiterated a “mkt perform” rating and issued a $40.00 price target (down from $44.00) on shares of WesBanco in a research note on Thursday, July 20th. Zacks Investment Research raised shares of WesBanco from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Wednesday, June 28th. ValuEngine raised shares of WesBanco from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, DA Davidson raised shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $41.60.
Shares of WesBanco (NASDAQ:WSBC) opened at 36.69 on Wednesday. WesBanco has a 52-week low of $31.09 and a 52-week high of $44.19. The stock’s 50 day moving average is $38.76 and its 200 day moving average is $39.03. The company has a market capitalization of $1.62 billion, a P/E ratio of 16.76 and a beta of 0.94.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in WesBanco by 25,298.2% in the first quarter. BlackRock Inc. now owns 2,653,602 shares of the financial services provider’s stock valued at $101,129,000 after buying an additional 2,643,154 shares during the period. Teachers Advisors LLC increased its position in shares of WesBanco by 386.8% in the second quarter. Teachers Advisors LLC now owns 345,534 shares of the financial services provider’s stock valued at $13,662,000 after buying an additional 274,555 shares during the period. Eaton Vance Management acquired a new position in shares of WesBanco during the second quarter valued at $9,783,000. Vanguard Group Inc. increased its position in shares of WesBanco by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,461,403 shares of the financial services provider’s stock valued at $131,915,000 after buying an additional 152,785 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of WesBanco by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,322,353 shares of the financial services provider’s stock valued at $126,615,000 after buying an additional 132,877 shares during the period. Hedge funds and other institutional investors own 56.07% of the company’s stock.
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WesBanco Company Profile
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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