West Coast Bancorp (NASDAQ:WCBO) will unveil its latest earnings on Friday, July 29, 2011. West Coast Bancorp is a bank holding company through its subsidiaries which provides a full range of financial services including lending and depository services through 64 branch banking offices in Oregon and Washington.
West Coast Bancorp Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 28 cents per share, a swing from a loss of 20 cents in the year earlier quarter. During the past three months, the average estimate has moved up from 26 cents. Between one and three months ago, the average estimate moved up, and has risen from 27 cents during the last month. For the year, analysts are projecting profit of $1.14 per share, a rise of more than fivefold from last year.
Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of 25 cents per share against a mean estimate of profit of 20 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 5 cents.
Wall St. Revenue Expectations: On average, analysts predict $31 million in revenue this quarter, a rise of 8.9% from the year ago quarter. Analysts are forecasting total revenue of $124.1 million for the year, a rise of 7% from last year’s revenue of $116 million.
Analyst Ratings: Analysts are bullish on West Coast Bancorp as two analysts rate it as a buy, none rate it as a sell and two rate it as a hold.
Revenue has risen the past four quarters. Revenue increased 0.7% to $33.8 million in first quarter. The figure rose 64% in the fourth quarter of the last fiscal year from the year earlier, climbed 4.4% in the third quarter of the last fiscal year from the year-ago quarter and 4.6% in the second quarter of the last fiscal year.
Competitors to Watch: Cascade Bancorp (NASDAQ:CACB), Pacific Continental Corp. (NASDAQ:PCBK), Citigroup (NYSE:C), Wells Fargo & Company (NYSE:WFC), Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), U.S. Bancorp (NYSE:USB), Columbia Banking System, Inc. (NASDAQ:COLB), and Frontier Financial Corp. (FTBK).
Stock Price Performance: During June 24, 2011 to July 25, 2011, the stock price had risen $1.06 (6.5%) from $16.19 to $17.25. The stock price saw one of its best stretches over the last year between August 23, 2010 and August 30, 2010 when shares rose for six-straight days, rising 15.5% (+$1.60) over that span. It saw one of its worst periods between May 31, 2011 and June 7, 2011 when shares fell for six-straight days, falling 9.3% (-$1.63) over that span. Shares are up $3.15 (+22.3%) year to date.
(Source: Xignite Financials)