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West Coast Bancorp (NASDAQ:WCBO) will unveil its latest earnings on Monday, July 23, 2012. 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 26 cents per share, a rise of 18.2% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 24 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 26 cents during the last month. Analysts are projecting profit to rise by 34.2% compared to last year’s $1.04.
Last quarter, the company came in at profit of 27 cents per share against a mean estimate of net income of 23 cents per share, beating estimates after missing them in the previous quarter. In the fourth quarter of the last fiscal year, it missed forecasts by 20 cents.
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A Look Back: In the first quarter, the company swung to a profit of $5.1 million (25 cents a share) from a loss of $888,000 (5 cents) a year earlier, beating analyst estimates. Revenue rose 0.7% to $33.8 million from $33.6 million.
Analyst Ratings: With four analysts rating the stock a buy, none rating it a sell and none rating the stock a hold, there are indications of a bullish stance by analysts.
Wall St. Revenue Expectations: Analysts predict a rise of 0.4% in revenue from the year-earlier quarter to $30.1 million.
On the top line, the company is looking to build on three-straight revenue increases heading into this earnings announcement. Revenue increased 4.4% in the third quarter of the last fiscal year and 64% in the fourth quarter of the last fiscal year before climbing again in the first quarter.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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