WesBanco Inc (NASDAQ:WSBC) Expected to Post Earnings of $0.75 Per Share

Analysts forecast that WesBanco Inc (NASDAQ:WSBC) will announce earnings per share of $0.75 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for WesBanco’s earnings. The highest EPS estimate is $0.81 and the lowest is $0.69. WesBanco posted earnings of $0.82 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.5%. The firm is expected to report its next quarterly earnings report on Monday, January 27th.

On average, analysts expect that WesBanco will report full year earnings of $2.99 per share for the current fiscal year, with EPS estimates ranging from $2.95 to $3.07. For the next fiscal year, analysts anticipate that the company will post earnings of $2.99 per share, with EPS estimates ranging from $2.90 to $3.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover WesBanco.

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

Several brokerages recently issued reports on WSBC. ValuEngine upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub lowered shares of WesBanco from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Zacks Investment Research reaffirmed a “hold” rating on shares of WesBanco in a research report on Saturday, October 26th. Finally, B. Riley set a $40.00 target price on WesBanco and gave the stock a “hold” rating in a report on Friday, September 13th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $41.25.

In related news, EVP Jonathan D. Dargusch sold 4,504 shares of WesBanco stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.10, for a total transaction of $171,602.40. Following the completion of the transaction, the executive vice president now directly owns 20,219 shares of the company’s stock, valued at approximately $770,343.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd Clossin purchased 7,500 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average cost 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 in the company, valued at $2,330,231.52. The disclosure for this purchase can be found here. Insiders own 3.24% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Aperio Group LLC boosted its holdings in shares of WesBanco by 12.7% in the 2nd quarter. Aperio Group LLC now owns 11,358 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 1,282 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of WesBanco during the third quarter worth $436,000. GSA Capital Partners LLP bought a new position in shares of WesBanco in the 2nd quarter worth about $468,000. First Mercantile Trust Co. bought a new position in shares of WesBanco in the 3rd quarter worth about $43,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of WesBanco by 17.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,064 shares of the financial services provider’s stock valued at $562,000 after buying an additional 2,257 shares during the period. Institutional investors and hedge funds own 61.68% of the company’s stock.

Shares of WesBanco stock traded down $0.26 during midday trading on Thursday, reaching $36.06. 16,051 shares of the company’s stock traded hands, compared to its average volume of 219,458. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.89 and a current ratio of 0.89. WesBanco has a 12 month low of $33.19 and a 12 month high of $43.88. The company has a market cap of $2.00 billion, a PE ratio of 11.24 and a beta of 1.11. The stock has a 50 day moving average of $37.41 and a 200-day moving average of $36.66.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.44%. The ex-dividend date is Thursday, December 12th. WesBanco’s dividend payout ratio is currently 38.63%.

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.

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Earnings History and Estimates for WesBanco (NASDAQ:WSBC)

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