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

WesBanco, Inc. (NASDAQ:WSBC) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors 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 annualized dividend and a yield of 4.27%.

WesBanco has raised its dividend payment by an average of 3.2% annually over the last three years and has raised its dividend annually for the last 14 consecutive 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 Trading Down 1.4 %

NASDAQ:WSBC traded down $0.49 during trading hours on Wednesday, reaching $34.64. 699,065 shares of the company were exchanged, compared to its average volume of 473,853. WesBanco has a 52-week low of $25.56 and a 52-week high of $37.36. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 15.46 and a beta of 0.84. 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 simple moving average of $33.81 and a 200 day simple moving average of $32.80.

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

Analysts Set New Price Targets

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

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.