Zacks: Analysts Expect WesBanco Inc (NASDAQ:WSBC) Will Announce Earnings of $0.79 Per Share

Equities research analysts forecast that WesBanco Inc (NASDAQ:WSBC) will post $0.79 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for WesBanco’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.76. WesBanco reported earnings of $0.81 per share in the same quarter last year, which would indicate a negative year over year growth rate of 2.5%. The business is expected to report its next quarterly earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that WesBanco will report full-year earnings of $3.18 per share for the current year, with EPS estimates ranging from $3.10 to $3.25. For the next year, analysts expect that the company will post earnings of $3.31 per share, with EPS estimates ranging from $3.17 to $3.38. Zacks’ EPS averages are an average based on a survey of research firms that cover WesBanco.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, meeting the consensus estimate of $0.82. WesBanco had a return on equity of 8.68% and a net margin of 27.85%. The firm had revenue of $129.62 million during the quarter, compared to analyst estimates of $127.44 million. During the same quarter in the prior year, the business posted $0.80 EPS.

WSBC has been the topic of several research reports. Keefe, Bruyette & Woods raised WesBanco from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Thursday, July 25th. Sandler O’Neill raised WesBanco from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th. BidaskClub downgraded WesBanco from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 18th. Hovde Group initiated coverage on WesBanco in a research report on Monday, June 17th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, Zacks Investment Research raised WesBanco from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $42.50.

Shares of NASDAQ WSBC traded down $0.24 during mid-day trading on Monday, hitting $34.90. The stock had a trading volume of 76,538 shares, compared to its average volume of 205,150. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50 day moving average price is $37.03. WesBanco has a twelve month low of $33.88 and a twelve month high of $51.12. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.08 and a beta of 1.11.

In related news, EVP Brent E. Richmond sold 5,323 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $36.53, for a total value of $194,449.19. Following the transaction, the executive vice president now directly owns 17,428 shares of the company’s stock, valued at approximately $636,644.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.24% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WSBC. Norges Bank acquired a new position in shares of WesBanco in the 4th quarter valued at $27,101,000. Wesbanco Bank Inc. grew its position in WesBanco by 11.2% during the 1st quarter. Wesbanco Bank Inc. now owns 1,817,347 shares of the financial services provider’s stock worth $72,239,000 after purchasing an additional 182,766 shares during the period. Geode Capital Management LLC grew its position in WesBanco by 12.3% during the 4th quarter. Geode Capital Management LLC now owns 656,303 shares of the financial services provider’s stock worth $24,079,000 after purchasing an additional 71,920 shares during the period. Kennedy Capital Management Inc. acquired a new stake in WesBanco during the 1st quarter worth about $1,988,000. Finally, Dupont Capital Management Corp acquired a new stake in WesBanco during the 2nd quarter worth about $1,573,000. 57.33% of the stock is currently owned by hedge funds and other institutional investors.

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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