Equities analysts forecast that WesBanco, Inc. (NASDAQ:WSBC) will announce $144.24 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for WesBanco's earnings, with the lowest sales estimate coming in at $140.34 million and the highest estimate coming in at $147.57 million. WesBanco reported sales of $155.21 million during the same quarter last year, which indicates a negative year over year growth rate of 7.1%. The business is expected to announce its next earnings report on Wednesday, October 20th.
On average, analysts expect that WesBanco will report full year sales of $588.75 million for the current financial year, with estimates ranging from $583.98 million to $593.15 million. For the next financial year, analysts anticipate that the business will report sales of $563.98 million, with estimates ranging from $542.33 million to $578.83 million. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for WesBanco.
WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Tuesday, July 27th. The financial services provider reported $1.01 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.75 by $0.26. WesBanco had a net margin of 36.64% and a return on equity of 9.17%. The company had revenue of $151.97 million during the quarter, compared to the consensus estimate of $149.17 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The firm's quarterly revenue was up .1% on a year-over-year basis.
Several equities analysts recently commented on the stock. Boenning Scattergood reissued a "neutral" rating on shares of WesBanco in a research note on Wednesday, September 29th. Raymond James downgraded shares of WesBanco from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 8th. B. Riley reissued a "neutral" rating on shares of WesBanco in a research note on Tuesday, July 27th. Royal Bank of Canada increased their price objective on shares of WesBanco from $36.00 to $38.00 and gave the company a "sector perform" rating in a research note on Wednesday, September 29th. Finally, Zacks Investment Research cut shares of WesBanco from a "buy" rating to a "hold" rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $34.75.
Shares of WesBanco stock opened at $36.60 on Friday. The company has a 50 day moving average of $33.30 and a 200-day moving average of $35.33. WesBanco has a 1-year low of $22.53 and a 1-year high of $39.87. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The company has a market cap of $2.39 billion, a PE ratio of 10.70 and a beta of 1.09.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 1st. Stockholders of record on Friday, September 10th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, September 9th. WesBanco's dividend payout ratio (DPR) is presently 70.21%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC increased its position in shares of WesBanco by 5.8% during the second quarter. Parametric Portfolio Associates LLC now owns 135,258 shares of the financial services provider's stock worth $4,819,000 after buying an additional 7,355 shares during the period. Morgan Stanley increased its position in shares of WesBanco by 171.1% during the second quarter. Morgan Stanley now owns 204,113 shares of the financial services provider's stock worth $7,272,000 after buying an additional 128,822 shares during the period. Invesco Ltd. increased its position in shares of WesBanco by 7.3% during the second quarter. Invesco Ltd. now owns 574,463 shares of the financial services provider's stock worth $20,468,000 after buying an additional 39,014 shares during the period. Metropolitan Life Insurance Co NY increased its position in shares of WesBanco by 98,927.8% during the second quarter. Metropolitan Life Insurance Co NY now owns 17,825 shares of the financial services provider's stock worth $635,000 after buying an additional 17,807 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of WesBanco during the second quarter worth $1,124,000. Institutional investors own 62.31% of the company's stock.
WesBanco Company Profile
WesBanco, Inc is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Community Banking, and Trust and Investment Services. The Community Banking segment delivers services traditionally offered by service commercial banks, including commercial demand, individual demand, and time deposit accounts, as well as commercial, mortgage, and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services.
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