Regional banking company WesBanco (NASDAQ: WSBC) will be reporting earnings this Tuesday after market close. Here’s what to expect.
WesBanco met analysts’ revenue expectations last quarter, reporting revenues of $265.8 million, up 62% year on year. It was a slower quarter for the company, with a miss of analysts’ EPS estimates and tangible book value per share in line with analysts’ 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 36.1% year on year, improving from the 34% 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 to 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 Q1 results, giving us a hint as to what we can expect. BancFirst delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 1%, and KeyCorp reported revenues up 10.2%, topping estimates by 0.7%. BancFirst traded up 3.6% following the results while KeyCorp was also up 1.1%.
Read our full analysis of BancFirst’s results here and KeyCorp’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 9.9% on average over the last month. WesBanco is up 8% during the same time and is heading into earnings with an average analyst price target of $40.25 (compared to the current share price of $36.30).
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