WesBanco, Inc. Declares Quarterly Dividend of $0.38 (NASDAQ:WSBC)

WesBanco, Inc. (NASDAQ:WSBC) announced a quarterly dividend on Wednesday, May 20th. Investors of record on Friday, June 5th will be paid a dividend of 0.38 per share by the financial services provider on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, June 5th.

WesBanco has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 14 years. WesBanco has a dividend payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect WesBanco to earn $3.93 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 38.7%.

WesBanco Stock Up 2.2%

Shares of WSBC opened at $34.17 on Thursday. WesBanco has a 52 week low of $29.18 and a 52 week high of $38.10. The firm has a market cap of $3.29 billion, a P/E ratio of 11.02 and a beta of 0.69. The firm’s 50-day simple moving average is $34.29 and its 200 day simple moving average is $34.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. WesBanco had a net margin of 21.12% and a return on equity of 9.76%. The business had revenue of $257.23 million for the quarter, compared to analyst estimates of $264.52 million. During the same quarter in the prior year, the business earned $0.66 EPS. WesBanco’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts forecast that WesBanco will post 3.58 earnings per share for the current year.

Analyst Ratings Changes

WSBC has been the topic of a number of research reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $41.00 price target on shares of WesBanco in a research note on Thursday, March 12th. Zacks Research lowered shares of WesBanco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. DA Davidson reiterated a “buy” rating and issued a $41.00 price target on shares of WesBanco in a research note on Wednesday, April 22nd. Piper Sandler decreased their price target on shares of WesBanco from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Finally, Weiss Ratings upgraded shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, WesBanco currently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.