$107.45 Million in Sales Expected for WesBanco Inc (WSBC) This Quarter

Brokerages expect WesBanco Inc (NASDAQ:WSBC) to post $107.45 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for WesBanco’s earnings, with the lowest sales estimate coming in at $104.56 million and the highest estimate coming in at $111.98 million. WesBanco posted sales of $95.15 million in the same quarter last year, which suggests a positive year over year growth rate of 12.9%. The business is scheduled to issue its next quarterly earnings report on Wednesday, October 17th.

According to Zacks, analysts expect that WesBanco will report full year sales of $437.10 million for the current year, with estimates ranging from $430.48 million to $443.26 million. For the next fiscal year, analysts forecast that the company will post sales of $514.35 million per share, with estimates ranging from $503.31 million to $521.22 million. Zacks’ sales averages are an average based on a survey of analysts that cover WesBanco.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Monday, July 23rd. The financial services provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.06. WesBanco had a net margin of 24.38% and a return on equity of 8.85%. The company had revenue of $105.76 million for the quarter, compared to analyst estimates of $103.37 million. During the same period in the prior year, the company posted $0.60 EPS.

A number of research firms recently weighed in on WSBC. Zacks Investment Research raised shares of WesBanco from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Wednesday, June 6th. BidaskClub raised shares of WesBanco from a “hold” rating to a “buy” rating in a research report on Wednesday, July 25th. B. Riley increased their price objective on shares of WesBanco from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 19th. ValuEngine raised shares of WesBanco from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $48.00 target price on shares of WesBanco in a research report on Wednesday, July 25th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $47.40.

WesBanco traded up $0.12, reaching $49.18, during midday trading on Friday, MarketBeat reports. The stock had a trading volume of 73,583 shares, compared to its average volume of 118,962. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.88 and a quick ratio of 0.87. WesBanco has a 52-week low of $35.49 and a 52-week high of $50.65. The firm has a market capitalization of $2.29 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 1.59 and a beta of 0.90.

In other news, Director Charlotte A. Zuschlag sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $49.50, for a total transaction of $495,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephen J. Lawrence sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $47.41, for a total transaction of $94,820.00. Following the transaction, the executive vice president now directly owns 7,345 shares in the company, valued at $348,226.45. The disclosure for this sale can be found here. Company insiders own 4.14% of the company’s stock.

A number of hedge funds have recently modified their holdings of WSBC. Deutsche Bank AG increased its holdings in WesBanco by 59.1% during the fourth quarter. Deutsche Bank AG now owns 152,185 shares of the financial services provider’s stock valued at $6,185,000 after buying an additional 56,558 shares during the period. Goldman Sachs Group Inc. increased its holdings in WesBanco by 64.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 26,300 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 10,273 shares during the period. Millennium Management LLC purchased a new position in WesBanco during the fourth quarter valued at approximately $346,000. MetLife Investment Advisors LLC purchased a new position in WesBanco during the fourth quarter valued at approximately $807,000. Finally, Xact Kapitalforvaltning AB purchased a new position in WesBanco during the fourth quarter valued at approximately $248,000. 57.37% of the stock is currently owned by institutional investors.

WesBanco Company Profile

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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