WesBanco Inc (NASDAQ:WSBC) announced a quarterly dividend on Wednesday, May 20th, Zacks reports. Shareholders of record on Friday, June 12th will be given a dividend of 0.32 per share by the financial services provider on Wednesday, July 1st. This represents a $1.28 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend is Thursday, June 11th.
WesBanco has raised its dividend by an average of 7.2% annually over the last three years and has increased its dividend annually for the last 9 consecutive years. WesBanco has a dividend payout ratio of 73.1% meaning its dividend is sufficiently covered by earnings. Analysts expect WesBanco to earn $1.93 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 66.3%.
Shares of NASDAQ:WSBC traded down $0.39 on Friday, reaching $19.94. The company had a trading volume of 2,455 shares, compared to its average volume of 288,807. WesBanco has a 52-week low of $17.46 and a 52-week high of $39.33. The firm’s 50 day simple moving average is $22.63 and its 200-day simple moving average is $31.08. The firm has a market capitalization of $1.38 billion, a PE ratio of 8.08 and a beta of 1.06. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69.
A number of research analysts have recently issued reports on the company. BidaskClub downgraded WesBanco from a “sell” rating to a “strong sell” rating in a report on Thursday, March 5th. ValuEngine downgraded WesBanco from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Keefe, Bruyette & Woods downgraded WesBanco from an “outperform” rating to a “market perform” rating and cut their price target for the company from $41.00 to $37.00 in a report on Wednesday, January 29th. Stephens dropped their target price on WesBanco from $41.50 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, B. Riley decreased their price target on WesBanco from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $35.75.
In related news, Director Ronald W. Owen purchased 3,850 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were acquired at an average price of $25.82 per share, for a total transaction of $99,407.00. Corporate insiders own 3.05% of the company’s stock.
WesBanco, Inc operates as the holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services in the United States. It operates in two segments, Community Banking, and Trust and Investment Services.
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