Regional banking company WesBanco (NASDAQ: WSBC) will be reporting earnings this Wednesday afternoon. Here’s what to expect.
WesBanco beat analysts’ revenue expectations last quarter, reporting revenues of $275.4 million, up 5.7% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but a slight miss of analysts’ net interest income estimates.
Is WesBanco a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting WesBanco’s revenue to grow 5.2% year on year, slowing from the 72.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. WesBanco has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at WesBanco’s peers in the regional banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Washington Trust Bancorp delivered year-on-year revenue growth of 15%, beating analysts’ expectations by 4.1%, and Independent Bank reported revenues up 7.4%, topping estimates by 0.6%. Independent Bank traded up 3.6% following the results.
Read our full analysis of Washington Trust Bancorp’s results here and Independent Bank’s results here.
In the last twelve months or so, the market has shifted its attention from one area of macro importance to the next (AI disintermediation and AI capex spending to geopolitical conflict, rates, and whether the economy is on solid footing or not). While some of the regional banks stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5.7% on average over the last month. WesBanco is down 5.2% during the same time and is heading into earnings with an average analyst price target of $44.14 (compared to the current share price of $37.05).
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