Wall Street analysts predict that WesBanco, Inc. (NASDAQ:WSBC) will post $98.37 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for WesBanco’s earnings, with estimates ranging from $95.88 million to $99.28 million. WesBanco reported sales of $83.04 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.5%. The business is scheduled to report its next earnings results on Tuesday, October 24th.
On average, analysts expect that WesBanco will report full year sales of $98.37 million for the current financial year, with estimates ranging from $379.78 million to $393.12 million. For the next fiscal year, analysts expect that the business will post sales of $409.74 million per share, with estimates ranging from $394.10 million to $416.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover WesBanco.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.01. WesBanco had a return on equity of 7.59% and a net margin of 23.44%. The business had revenue of $94.26 million for the quarter, compared to analyst estimates of $96.70 million. During the same quarter in the previous year, the business posted $0.58 earnings per share.
A number of equities research analysts have recently issued reports on WSBC shares. Stephens reaffirmed an “overweight” rating on shares of WesBanco in a report on Tuesday, April 11th. Keefe, Bruyette & Woods set a $42.00 target price on shares of WesBanco and gave the stock a “hold” rating in a report on Monday, April 10th. Zacks Investment Research lowered shares of WesBanco from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. DA Davidson raised shares of WesBanco from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Friday, June 2nd. Finally, ValuEngine raised shares of WesBanco from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $41.60.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new position in shares of WesBanco during the first quarter valued at $132,000. Smithfield Trust Co. purchased a new position in shares of WesBanco during the second quarter valued at $138,000. Sei Investments Co. boosted its position in shares of WesBanco by 4,236.6% in the second quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock valued at $174,000 after buying an additional 4,279 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of WesBanco during the first quarter valued at $219,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of WesBanco by 7.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,783 shares of the financial services provider’s stock valued at $220,000 after buying an additional 419 shares during the last quarter. 56.64% of the stock is currently owned by hedge funds and other institutional investors.
WesBanco (NASDAQ:WSBC) traded down 0.03% during trading on Friday, hitting $38.22. 50,741 shares of the stock were exchanged. WesBanco has a 52 week low of $30.46 and a 52 week high of $44.19. The stock has a 50 day moving average of $39.31 and a 200-day moving average of $39.39. The stock has a market cap of $1.68 billion, a P/E ratio of 17.53 and a beta of 0.94.
WesBanco Company Profile
WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.
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