Wall Street analysts expect WesBanco, Inc. (NASDAQ:WSBC) to report revenue of $144.21 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have released earnings estimates for WesBanco. The lowest sales estimate is $141.39 million and the highest is $147.00 million. WesBanco reported sales of $152.42 million in the same quarter last year, suggesting a negative year-over-year growth rate of 5.4%. The company is expected to release its next results after the market closes on Tuesday, January 25.
According to Zacks, analysts expect WesBanco to report revenue of $591.68 million for the current fiscal year, with estimates ranging from $585.18 million to $596.00 million. . For next year, analysts expect the company to post sales of $562.46 million, with estimates ranging from $542.33 million to $576.51 million. Zacks Investment Research’s sell calculations are an average average based on a survey of sell-side research analysts who track WesBanco.
WesBanco (NASDAQ:WSBC) last announced its quarterly results on Tuesday, October 26. The financial services provider reported EPS of $0.70 for the quarter, missing the Zacks consensus estimate of $0.77 per ($0.07). The company posted revenue of $148.03 million for the quarter, versus 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 was down 4.6% from the same quarter last year. In the same period a year earlier, the company posted 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 and set a price target of $39.00 for the company in a report on Tuesday, January 4. Boenning Scattergood reaffirmed a “neutral” rating on WesBanco shares in a Wednesday, September 29 research report. B. Riley raised his price target on WesBanco from $34.00 to $35.00 in a report on Wednesday. Finally, Royal Bank of Canada raised its price target on WesBanco from $36.00 to $38.00 and gave the stock a “sector performance” rating in a Wednesday, September 29 report. Five analysts gave the stock a hold rating and one gave the stock a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.00.
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NASDAQWSBC 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 minimum of $28.65 and a 52-week maximum of $39.87. The company has a market capitalization of $2.40 billion, a price-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 ratio of 0.15.
The company also recently announced a quarterly dividend, which was paid on Monday, January 3. Shareholders of record on Friday, December 10 received a dividend of $0.33. This represents a dividend of $1.32 on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Thursday, December 9. WesBanco’s payout ratio is currently 38.26%.
In related news, director James W. Cornelsen sold 30,907 shares of the company in a trade that took place on Tuesday, November 23. The stock was sold at an average price of $35.56, for a total transaction of $1,099,052.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Additionally, Director F Eric Nelson, Jr. sold 1,196 shares of the company in a trade that took place on Wednesday, December 22. The shares were sold at an average price of $33.46, for a total value of $40,018.16. Disclosure of this sale can be found here. Insiders of the company own 3.13% of the shares of the company.
Institutional investors have recently bought and sold shares of the company. Strs Ohio increased its holdings of WesBanco shares by 6.1% in Q3. Strs Ohio now owns 36,300 shares of the financial services provider worth $1,237,000 after buying 2,100 more shares last quarter. Cubist Systematic Strategies LLC increased its equity stake in WesBanco by 39.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,897 shares of the financial services provider worth $281,000 after buying 2,237 additional shares last quarter. Legal & General Group Plc increased its stake in WesBanco shares by 4.8% in the 2nd quarter. Legal & General Group Plc now owns 48,271 shares of the financial services provider worth $1,719,000 after buying an additional 2,221 shares last quarter. Dupont Capital Management Corp increased its stake in WesBanco shares by 18.7% in the third quarter. Dupont Capital Management Corp now owns 31,590 shares of the financial services provider worth $1,077,000 after buying 4,977 additional shares last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in WesBanco shares by 197.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,693 shares of the financial services provider worth $773,000 after buying an additional 14,401 shares last quarter. 60.06% of the shares are held by institutional investors and hedge funds.
About WesBanco
WesBanco, Inc is a bank holding company that provides financial services. It operates through the following segments: Community Banking and Trust and Investment Services. The Community Banking segment provides services traditionally offered by commercial service banks, including commercial current accounts, individual current accounts and term deposit accounts, as well as commercial, mortgage and individual installment loans, and some non-traditional offerings, such as insurance and securities brokerage. services.
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