WesBanco Inc (NASDAQ:WSBC) Expected to Announce Quarterly Sales of $125.75 Million

Brokerages expect WesBanco Inc (NASDAQ:WSBC) to announce $125.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for WesBanco’s earnings, with the highest sales estimate coming in at $129.70 million and the lowest estimate coming in at $122.24 million. WesBanco posted sales of $128.33 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2%. The firm is expected to announce its next earnings report on Monday, January 27th.

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According to Zacks, analysts expect that WesBanco will report full year sales of $506.29 million for the current financial year, with estimates ranging from $504.90 million to $508.80 million. For the next year, analysts expect that the company will post sales of $607.90 million, with estimates ranging from $592.36 million to $621.35 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover WesBanco.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.10). The business had revenue of $117.35 million during the quarter, compared to the consensus estimate of $126.48 million. WesBanco had a net margin of 28.22% and a return on equity of 8.38%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS.

WSBC has been the subject of several recent research reports. BidaskClub upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Sandler O’Neill upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Thursday, July 25th. B. Riley set a $40.00 price target on shares of WesBanco and gave the company a “hold” rating in a research report on Friday, September 13th. Finally, Zacks Investment Research restated a “hold” rating on shares of WesBanco in a research report on Saturday, October 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.25.

NASDAQ WSBC traded down $0.18 during trading on Thursday, reaching $37.77. The company’s stock had a trading volume of 195,600 shares, compared to its average volume of 164,298. The firm has a 50 day moving average price of $37.54 and a 200 day moving average price of $37.01. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 11.77 and a beta of 1.12. WesBanco has a 12 month low of $33.19 and a 12 month high of $43.88. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63.

In other news, Director Stephen J. Callen acquired 7,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $33.76 per share, for a total transaction of $236,320.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Clossin acquired 7,500 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average price of $36.46 per share, with a total value of $273,450.00. Following the completion of the transaction, the chief executive officer now owns 63,912 shares of the company’s stock, valued at $2,330,231.52. The disclosure for this purchase can be found here. Corporate insiders own 3.24% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of WSBC. Accurate Investment Solutions Inc. increased its position in shares of WesBanco by 9.1% during the second quarter. Accurate Investment Solutions Inc. now owns 4,489 shares of the financial services provider’s stock worth $173,000 after buying an additional 373 shares during the period. Foundry Partners LLC boosted its stake in WesBanco by 11.0% during the second quarter. Foundry Partners LLC now owns 233,403 shares of the financial services provider’s stock worth $8,998,000 after acquiring an additional 23,058 shares in the last quarter. Huntington National Bank boosted its stake in WesBanco by 61.0% during the second quarter. Huntington National Bank now owns 25,642 shares of the financial services provider’s stock worth $988,000 after acquiring an additional 9,711 shares in the last quarter. Strs Ohio boosted its stake in WesBanco by 3.3% during the second quarter. Strs Ohio now owns 28,100 shares of the financial services provider’s stock worth $1,083,000 after acquiring an additional 900 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in WesBanco during the second quarter worth $262,000. Institutional investors own 57.24% 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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Earnings History and Estimates for WesBanco (NASDAQ:WSBC)

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