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

Key Points

• WesBanco declared a quarterly dividend of $0.38 per share, payable October 1 to shareholders of record on September 4, implying a 3.7% annualized yield and a $1.52 annual dividend.
• The dividend appears well covered, with a current payout ratio of 39.1% and an expected future payout ratio of about 39.3%; the company has increased its dividend for 14 consecutive years.
• WesBanco recently exceeded earnings expectations, reporting $0.92 EPS versus the $0.85 consensus and $275.79 million in revenue versus $267.71 million expected. Analysts maintain a “Moderate Buy” consensus with a $43.20 target price.

WesBanco, Inc. (NASDAQ:WSBC - Get Free Report) announced a quarterly dividend on Wednesday, August 19th. Investors of record on Friday, September 4th will be paid a dividend of 0.38 per share by the financial services provider on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 4th.

WesBanco has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. WesBanco has a dividend payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect WesBanco to earn $3.87 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 39.3%.

WesBanco Stock Down 2.5%

NASDAQ WSBC opened at $41.16 on Thursday. The business has a fifty day moving average price of $39.86 and a 200 day moving average price of $36.63. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.94. The company has a market cap of $3.95 billion, a P/E ratio of 11.97 and a beta of 0.67. WesBanco has a one year low of $29.57 and a one year high of $43.02.

WesBanco (NASDAQ:WSBC - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.07. The business had revenue of $275.79 million during the quarter, compared to analyst estimates of $267.71 million. WesBanco had a net margin of 23.35% and a return on equity of 9.72%. Research analysts anticipate that WesBanco will post 3.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on WSBC. DA Davidson set a $46.00 target price on WesBanco in a report on Thursday, July 23rd. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $42.00 price objective on shares of WesBanco in a research report on Thursday, July 23rd. Wall Street Zen lowered WesBanco from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Royal Bank Of Canada upped their target price on WesBanco from $41.00 to $44.00 and gave the company a "sector perform" rating in a report on Thursday, July 23rd. Finally, Piper Sandler raised their target price on WesBanco from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, WesBanco has a consensus rating of "Moderate Buy" and a consensus target price of $43.20.

About WesBanco

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.

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