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

Brokerages expect WesBanco Inc (NASDAQ:WSBC) to announce earnings of $0.79 per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for WesBanco’s earnings, with estimates ranging from $0.76 to $0.84. WesBanco reported earnings per share of $0.81 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.

On average, analysts expect that WesBanco will report full year earnings of $3.15 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.25. For the next fiscal year, analysts expect that the business will post earnings of $3.25 per share, with EPS estimates ranging from $3.17 to $3.33. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover WesBanco.

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

WSBC has been the subject of several recent research reports. Keefe, Bruyette & Woods raised 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 note on Thursday, July 25th. Sandler O’Neill raised shares of WesBanco from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. B. Riley set a $40.00 price target on shares of WesBanco and gave the stock a “hold” rating in a research note on Friday, September 13th. BidaskClub raised shares of WesBanco from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Hovde Group initiated coverage on shares of WesBanco in a research note on Monday, June 17th. They issued an “outperform” rating and a $42.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. WesBanco presently has a consensus rating of “Hold” and an average target price of $41.25.

Shares of NASDAQ WSBC traded up $0.35 during mid-day trading on Friday, reaching $38.02. 129,144 shares of the company were exchanged, compared to its average volume of 202,270. WesBanco has a 52 week low of $33.19 and a 52 week high of $46.84. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $2.06 billion, a PE ratio of 11.84, a PEG ratio of 1.19 and a beta of 1.13. The company’s 50 day moving average price is $35.06 and its 200 day moving average price is $37.75.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Friday, September 6th. WesBanco’s dividend payout ratio (DPR) is 38.63%.

In other news, EVP Brent E. Richmond sold 5,323 shares of WesBanco stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $36.53, for a total value of $194,449.19. Following the transaction, the executive vice president now owns 17,428 shares of the company’s stock, valued at approximately $636,644.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen J. Callen acquired 7,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $33.76 per share, for a total transaction of $236,320.00. The disclosure for this purchase can be found here. 3.24% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of WSBC. DekaBank Deutsche Girozentrale acquired a new stake in shares of WesBanco during the second quarter worth about $49,000. Advisory Services Network LLC lifted its position in shares of WesBanco by 73.9% during the first quarter. Advisory Services Network LLC now owns 1,330 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 565 shares in the last quarter. Accurate Investment Solutions Inc. lifted 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 purchasing an additional 373 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of WesBanco during the second quarter worth about $255,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of WesBanco during the second quarter worth about $262,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

About WesBanco

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.

Further Reading: Initial Coin Offering (ICO)

Get a free copy of the Zacks research report on WesBanco (WSBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for WesBanco (NASDAQ:WSBC)

Receive News & Ratings for WesBanco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WesBanco and related companies with MarketBeat.com's FREE daily email newsletter.