WesBanco, Inc. (NASDAQ:WSBC) Expected to Announce Quarterly Sales of $136.72 Million

Wall Street analysts predict that WesBanco, Inc. (NASDAQ:WSBCGet Rating) will announce sales of $136.72 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for WesBanco’s earnings. The lowest sales estimate is $133.90 million and the highest is $138.29 million. WesBanco reported sales of $151.97 million during the same quarter last year, which would suggest a negative year over year growth rate of 10%. The business is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that WesBanco will report full-year sales of $556.48 million for the current fiscal year, with estimates ranging from $549.08 million to $566.35 million. For the next fiscal year, analysts forecast that the company will post sales of $581.64 million, with estimates ranging from $568.03 million to $598.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover WesBanco.

WesBanco (NASDAQ:WSBCGet Rating) last issued its earnings results on Tuesday, April 26th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $138.09 million during the quarter, compared to the consensus estimate of $139.13 million. WesBanco had a net margin of 35.42% and a return on equity of 8.27%. WesBanco’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 EPS.

Several brokerages have commented on WSBC. Zacks Investment Research upgraded shares of WesBanco from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Friday, April 1st. B. Riley decreased their price target on shares of WesBanco from $35.00 to $32.00 in a research note on Tuesday, April 12th. Finally, StockNews.com began coverage on shares of WesBanco in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, WesBanco has an average rating of “Hold” and an average target price of $37.25.

In other news, EVP Jonathan D. Dargusch sold 1,121 shares of the company’s stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $36.93, for a total transaction of $41,398.53. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.15% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its position in WesBanco by 293.6% in the 1st quarter. Allworth Financial LP now owns 1,051 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 784 shares during the period. Lindbrook Capital LLC raised its position in WesBanco by 414.0% in the 1st quarter. Lindbrook Capital LLC now owns 1,362 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,097 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in WesBanco in the 3rd quarter worth about $54,000. Confluence Wealth Services Inc. purchased a new stake in WesBanco in the 4th quarter worth about $55,000. Finally, Allegheny Financial Group LTD purchased a new stake in WesBanco in the 4th quarter worth about $74,000. Hedge funds and other institutional investors own 60.15% of the company’s stock.

WesBanco stock traded down $0.76 during mid-day trading on Wednesday, hitting $32.24. The stock had a trading volume of 302,552 shares, compared to its average volume of 226,312. The firm has a market capitalization of $1.98 billion, a P/E ratio of 10.23 and a beta of 0.96. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $34.62 and its 200 day moving average is $35.31. WesBanco has a one year low of $30.21 and a one year high of $39.87.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 11th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.22%. This is a boost from WesBanco’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 10th. WesBanco’s dividend payout ratio is currently 43.17%.

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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