Equities research analysts forecast that WesBanco, Inc. (NASDAQ:WSBC) will post $149.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for WesBanco's earnings. The lowest sales estimate is $147.83 million and the highest is $149.65 million. WesBanco posted sales of $151.87 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.9%. The firm is scheduled to report its next quarterly earnings results on Wednesday, July 28th.
According to Zacks, analysts expect that WesBanco will report full year sales of $592.05 million for the current financial year, with estimates ranging from $580.63 million to $600.82 million. For the next fiscal year, analysts forecast that the company will post sales of $572.77 million, with estimates ranging from $567.28 million to $580.55 million. Zacks Investment Research's sales averages are a mean average based on a survey of analysts that cover WesBanco.
WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, April 27th. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.38. The business had revenue of $149.69 million for the quarter, compared to analyst estimates of $152.67 million. WesBanco had a return on equity of 6.76% and a net margin of 26.13%. During the same period last year, the firm posted $0.41 earnings per share.
A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of WesBanco from a "hold" rating to a "strong-buy" rating and set a $41.00 target price on the stock in a research report on Wednesday, March 31st. B. Riley boosted their price objective on WesBanco from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, April 9th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $40.00 target price on shares of WesBanco in a research report on Wednesday, May 5th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of "Hold" and a consensus price target of $33.92.
In other news, EVP Jayson M. Zatta sold 1,500 shares of the company's stock in a transaction on Friday, April 30th. The shares were sold at an average price of $36.32, for a total value of $54,480.00. Also, EVP Jonathan D. Dargusch sold 5,375 shares of WesBanco stock in a transaction on Tuesday, May 25th. The stock was sold at an average price of $38.64, for a total transaction of $207,690.00. Following the transaction, the executive vice president now directly owns 28,308 shares of the company's stock, valued at approximately $1,093,821.12. The disclosure for this sale can be found here. Insiders sold 8,000 shares of company stock worth $306,045 over the last quarter. 3.13% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in WSBC. Capital Analysts LLC bought a new stake in WesBanco in the first quarter worth approximately $28,000. Captrust Financial Advisors bought a new stake in shares of WesBanco in the 1st quarter valued at $51,000. Concord Wealth Partners acquired a new position in shares of WesBanco during the 4th quarter valued at $52,000. Valeo Financial Advisors LLC boosted its stake in WesBanco by 2,152.4% during the first quarter. Valeo Financial Advisors LLC now owns 2,320 shares of the financial services provider's stock worth $84,000 after acquiring an additional 2,217 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new stake in WesBanco in the first quarter worth $109,000. Institutional investors own 60.98% of the company's stock.
WSBC opened at $37.61 on Friday. The firm has a market cap of $2.53 billion, a P/E ratio of 15.17 and a beta of 1.10. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $37.78. WesBanco has a 1-year low of $18.35 and a 1-year high of $39.87.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 11th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, June 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.51%. WesBanco's dividend payout ratio (DPR) is 70.21%.
WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. It operates in two segments, Community Banking, and Trust and Investment Services. The company offers commercial demand, individual demand, and time deposit accounts; money market accounts; interest bearing and non-interest bearing demand deposits, as well as savings deposits; and certificates of deposit.
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