Zacks: Brokerages Anticipate WesBanco Inc (WSBC) Will Post Quarterly Sales of $130.42 Million

Analysts expect WesBanco Inc (NASDAQ:WSBC) to post $130.42 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for WesBanco’s earnings, with the lowest sales estimate coming in at $128.26 million and the highest estimate coming in at $133.58 million. WesBanco posted sales of $96.12 million during the same quarter last year, which suggests a positive year-over-year growth rate of 35.7%. The company is expected to announce its next quarterly earnings results on Tuesday, January 22nd.

On average, analysts expect that WesBanco will report full year sales of $453.58 million for the current financial year, with estimates ranging from $451.53 million to $456.80 million. For the next year, analysts anticipate that the firm will post sales of $521.93 million, with estimates ranging from $515.81 million to $528.86 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for WesBanco.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.14). The company had revenue of $116.16 million for the quarter, compared to analysts’ expectations of $109.07 million. WesBanco had a return on equity of 9.04% and a net margin of 24.22%. During the same quarter in the prior year, the business posted $0.60 EPS.

A number of research firms recently commented on WSBC. Zacks Investment Research cut WesBanco from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a research report on Saturday, November 17th. BidaskClub upgraded WesBanco from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Boenning Scattergood reiterated a “hold” rating on shares of WesBanco in a research report on Friday, September 14th. B. Riley set a $45.00 price target on WesBanco and gave the company a “hold” rating in a report on Friday, November 2nd. Finally, ValuEngine cut WesBanco from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. WesBanco currently has an average rating of “Hold” and an average price target of $47.25.

WesBanco stock traded up $0.04 during midday trading on Wednesday, reaching $43.52. 113,700 shares of the company were exchanged, compared to its average volume of 129,489. The stock has a market cap of $2.37 billion, a PE ratio of 17.78, a P/E/G ratio of 1.39 and a beta of 0.99. WesBanco has a 1 year low of $37.29 and a 1 year high of $51.12. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.69.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, December 13th. WesBanco’s dividend payout ratio (DPR) is 47.35%.

In other WesBanco news, EVP Brent E. Richmond sold 4,006 shares of WesBanco stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $45.60, for a total value of $182,673.60. Following the completion of the sale, the executive vice president now owns 19,635 shares in the company, valued at approximately $895,356. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.14% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ancora Advisors LLC acquired a new position in shares of WesBanco in the 3rd quarter valued at about $103,000. Legacy Financial Advisors Inc. acquired a new position in shares of WesBanco in the 3rd quarter valued at about $108,000. WealthTrust Fairport LLC acquired a new position in shares of WesBanco in the 2nd quarter valued at about $118,000. Panagora Asset Management Inc. acquired a new position in shares of WesBanco in the 3rd quarter valued at about $126,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of WesBanco in the 3rd quarter valued at about $138,000. Institutional investors own 56.97% 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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