Wall Street analysts expect WesBanco, Inc. (NASDAQ:WSBC) to report revenue of $144.21 million for the current fiscal quarter, reports Zacks Investment Research. Four analysts have released estimates for WesBanco’s earnings. The lowest sales estimate is $141.39 million and the highest is $147.00 million. WesBanco reported revenue of $152.42 million in the same quarter last year, indicating a negative growth rate of 5.4% year over year. The company is expected to release its next earnings results after the market close on Tuesday, January 25th.
According to Zacks, analysts expect WesBanco to report full-year revenue of $591.68 million for the current fiscal year, with estimates ranging from $585.18 million to $596.00 million. For the next year, analysts expect the company to post revenue of $562.46 million, with estimates ranging from $542.33 million to $576.51 million. Zacks Investment Research’s revenue calculations are an average based on a survey of sell-side research analysts who follow WesBanco.
WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, October 26th. The financial services firm reported $0.70 EPS for the quarter, missing Zacks’ consensus estimate of $0.77 ($0.07). The company had revenue of $148.03 million for the quarter, compared to analyst estimates of $146.23 million. WesBanco had a net margin of 37.95% and a return on equity of 9.23%. The company’s revenue for the quarter declined 4.6% compared to the same quarter last year. In the same period last year, the company reported earnings per share of $0.66.
WSBC has been the subject of several recent research reports. Zacks Investment Research upgraded WesBanco from a “hold” rating to a “buy” rating in a report Tuesday, January 4th, setting a price target of $39.00 for the company. Boenning Scattergood reiterated a “neutral” rating on shares of WesBanco in a research report on Wednesday, September 29. B. Riley raised its price target on WesBanco to $35.00 from $34.00 in a report on Wednesday. Finally, the Royal Bank of Canada raised its price target on WesBanco to $38.00 from $36.00 and gave the stock a “Sector Perform” rating in a report on Wednesday, September 29. Five analysts have rated the stock with a hold rating and one with a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.00.
NASDAQ WSBC opened at $37.90 on Friday. The company has a 50-day moving average price of $35.02 and a 200-day moving average price of $34.39. WesBanco has a 52-week low of $28.65 and a 52-week high of $39.87. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 10.99 and a beta of 1.03. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt to equity ratio of 0.15.
The company also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Stockholders of record on Friday, December 10 received a dividend of $0.33. That equates to a dividend of $1.32 on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday December 9th. WesBanco’s payout ratio currently stands at 38.26%.
In related news, Director James W. Cornelsen sold 30,907 shares of the company’s stock in a transaction that took place on Tuesday, November 23rd. The stock sold at an average price of $35.56 for a total transaction of $1,099,052.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC’s website. In addition, Director F. Eric Nelson, Jr. sold 1,196 shares of the company’s stock in a transaction that took place on Wednesday, December 22nd. The shares were sold at an average price of $33.46 for a total value of $40,018.16. The disclosure for this sale can be found here. Company insiders own 3.13% of the company’s shares.
Institutional investors have recently bought and sold shares in the company. Strs Ohio increased its holdings of WesBanco stock by 6.1% during the third quarter. Strs Ohio now owns 36,300 shares of the financial services provider, valued at $1,237,000, after buying another 2,100 shares last quarter. Cubist Systematic Strategies LLC increased its holding in WesBanco stock by 39.5% during the second quarter. Cubist Systematic Strategies LLC now owns 7,897 shares of the financial services provider, valued at $281,000, after purchasing an additional 2,237 shares last quarter. Legal & General Group Plc increased its holding in WesBanco shares by 4.8% in the second quarter. Legal & General Group Plc now owns 48,271 shares of the financial services provider, valued at $1,719,000, after purchasing an additional 2,221 shares last quarter. Dupont Capital Management Corp increased its holdings in WesBanco stock by 18.7% in the third quarter. Dupont Capital Management Corp now owns 31,590 shares of the financial services provider, valued at $1,077,000, after purchasing an additional 4,977 shares last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. its stake in WesBanco shares by 197.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,693 shares of the financial services firm, valued at $773,000, after purchasing an additional 14,401 shares last quarter. 60.06% of the shares are owned by institutional investors and hedge funds.
About Wes Banco
WesBanco, Inc is a bank holding company providing financial services. It operates through the following segments: Community Banking and Trust and Investment Services. The Community Banking segment provides services traditionally offered by service commercial banks, including commercial, individual, and time deposit accounts, as well as business, mortgage, and personal installment lending, and certain non-traditional offerings such as insurance and securities brokerage services.
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