WesBanco, Inc. Declares Quarterly Dividend of $0.37 (NASDAQ:WSBC)

by · The Cerbat Gem

WesBanco, Inc. (NASDAQ:WSBC – Get Free Report) declared a quarterly dividend on Wednesday, May 21st, RTT News reports. Investors of record on Friday, June 6th will be given a dividend of 0.37 per share by the financial services provider on Tuesday, July 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.82%.

WesBanco has raised its dividend by an average of 3.2% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. WesBanco has a payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect WesBanco to earn $3.91 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 37.9%.

WesBanco Stock Performance

NASDAQ WSBC opened at $30.73 on Thursday. The company has a market cap of $2.06 billion, a P/E ratio of 13.72 and a beta of 0.81. WesBanco has a 1-year low of $25.56 and a 1-year high of $37.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50-day moving average of $30.12 and a two-hundred day moving average of $32.77.

WesBanco (NASDAQ:WSBC – Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. The firm had revenue of $253.23 million during the quarter, compared to analysts’ expectations of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same period in the previous year, the firm posted $0.56 EPS. As a group, analysts anticipate that WesBanco will post 3.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WSBC. Keefe, Bruyette & Woods dropped their target price on WesBanco from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, May 5th. Stephens reissued an “equal weight” rating and issued a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. Royal Bank of Canada reduced their price objective on shares of WesBanco from $36.00 to $34.00 and set a “sector perform” rating for the company in a research note on Thursday, May 1st. DA Davidson upped their price target on WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Raymond James reduced their price objective on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.71.

Check Out Our Latest Stock Analysis on WesBanco

Hedge Funds Weigh In On WesBanco

A number of institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its holdings in WesBanco by 1,553.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,017 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,895 shares during the last quarter. Intech Investment Management LLC boosted its stake in WesBanco by 65.6% in the 1st quarter. Intech Investment Management LLC now owns 50,965 shares of the financial services provider’s stock worth $1,578,000 after buying an additional 20,190 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in WesBanco by 56.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,100 shares of the financial services provider’s stock valued at $1,582,000 after buying an additional 18,347 shares during the period. Royal Bank of Canada increased its stake in shares of WesBanco by 52.2% during the 1st quarter. Royal Bank of Canada now owns 59,983 shares of the financial services provider’s stock valued at $1,858,000 after acquiring an additional 20,585 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of WesBanco by 867.9% during the 1st quarter. Jane Street Group LLC now owns 133,430 shares of the financial services provider’s stock worth $4,131,000 after acquiring an additional 119,645 shares during the period. 61.41% of the stock is owned by institutional investors and hedge funds.

WesBanco Company Profile

(Get Free Report)

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.

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