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

WesBanco, Inc. (NASDAQ:WSBC) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Monday, March 10th will be given a dividend of 0.37 per share by the financial services provider on Tuesday, April 1st. This represents a $1.48 dividend on an annualized basis and a yield of 4.27%.

WesBanco has raised its dividend by an average of 3.2% annually over the last three years and has raised its dividend every year for the last 14 years. WesBanco has a dividend payout ratio of 38.1% indicating that its dividend is sufficiently covered by earnings. 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 WSBC stock opened at $34.64 on Thursday. The stock’s 50-day moving average is $33.85 and its two-hundred day moving average is $32.81. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 15.46 and a beta of 0.84. 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 quick ratio of 0.93 and a current ratio of 0.93.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. Analysts predict that WesBanco will post 3.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WSBC has been the subject of a number of research reports. Keefe, Bruyette & Woods upgraded WesBanco from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $44.00 in a research report on Monday, February 10th. DA Davidson lifted their price objective on WesBanco from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Stephens restated an “equal weight” rating and set a $39.00 price objective on shares of WesBanco in a research report on Thursday, January 23rd. Raymond James raised shares of WesBanco from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. Finally, StockNews.com raised shares of WesBanco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, WesBanco has a consensus rating of “Moderate Buy” and an average target price of $40.83.

About WesBanco

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.