WesBanco Inc (WSBC) Expected to Post Quarterly Sales of $130.42 Million

Analysts expect WesBanco Inc (NASDAQ:WSBC) to post $130.42 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for WesBanco’s earnings. The highest sales estimate is $133.58 million and the lowest is $128.26 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 scheduled to report its next 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 fiscal year, analysts anticipate that the business will post sales of $521.93 million, with estimates ranging from $515.81 million to $528.86 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow WesBanco.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.14). WesBanco had a return on equity of 9.04% and a net margin of 24.22%. The firm had revenue of $116.16 million during the quarter, compared to analysts’ expectations of $109.07 million. During the same period last year, the business posted $0.60 earnings per share.

Several brokerages have recently weighed in on WSBC. BidaskClub upgraded WesBanco from a “hold” rating to a “buy” rating in a research note on Wednesday, July 25th. ValuEngine downgraded WesBanco from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. B. Riley set a $45.00 target price on WesBanco and gave the company a “hold” rating in a research note on Friday, November 2nd. Boenning Scattergood restated a “hold” rating on shares of WesBanco in a research note on Friday, October 26th. Finally, Zacks Investment Research upgraded WesBanco from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $48.75.

In other news, CFO Robert H. Young sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $50.71, for a total transaction of $101,420.00. Following the completion of the sale, the chief financial officer now directly owns 18,533 shares in the company, valued at $939,808.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony F. Pietranton sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $50.90, for a total value of $305,400.00. Following the sale, the executive vice president now owns 12,957 shares of the company’s stock, valued at $659,511.30. The disclosure for this sale can be found here. Insiders have sold 15,256 shares of company stock valued at $752,709 over the last 90 days. Insiders own 4.14% of the company’s stock.

Several hedge funds have recently modified their holdings of WSBC. Sei Investments Co. lifted its position in shares of WesBanco by 2,054.2% during the first quarter. Sei Investments Co. now owns 2,542 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 2,424 shares during the last quarter. Legacy Financial Advisors Inc. bought a new position in shares of WesBanco during the third quarter worth about $108,000. WealthTrust Fairport LLC bought a new position in shares of WesBanco during the second quarter worth about $118,000. Stratos Wealth Partners LTD. bought a new position in shares of WesBanco during the third quarter worth about $138,000. Finally, AlphaMark Advisors LLC bought a new position in shares of WesBanco during the third quarter worth about $184,000. 59.62% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ WSBC traded down $0.43 during trading hours on Monday, hitting $41.80. The company had a trading volume of 98,602 shares, compared to its average volume of 141,951. WesBanco has a fifty-two week low of $37.29 and a fifty-two week high of $51.12. The company has a market cap of $2.29 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.32 and a beta of 1.00. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.69.

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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