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

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) announced a quarterly dividend on Wednesday, May 21st, RTT News reports. Investors of record on Friday, June 6th will be paid a dividend of 0.37 per share by the financial services provider on Tuesday, July 1st. This represents a $1.48 annualized dividend and a yield of 4.81%.

WesBanco has raised its dividend payment by an average of 3.2% 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 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

Shares of WesBanco stock opened at $30.78 on Thursday. The firm has a market capitalization of $2.06 billion, a P/E ratio of 13.79 and a beta of 0.81. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco has a 52 week low of $25.56 and a 52 week high of $37.36. The firm's 50 day moving average is $30.12 and its two-hundred day moving average is $32.77.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. The business had revenue of $253.23 million during the quarter, compared to the consensus estimate 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 business earned $0.56 EPS. Research analysts forecast that WesBanco will post 3.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on WSBC. Stephens reissued an "equal weight" rating and issued a $39.00 price objective on shares of WesBanco in a research note on Thursday, January 23rd. Raymond James decreased their price objective on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada cut their price objective on WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. StockNews.com raised WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, DA Davidson boosted their target price on shares of WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.71.

Hedge Funds Weigh In On WesBanco

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

WesBanco Company Profile

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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