WesBanco Inc (WSBC) Increases Dividend to $0.29 Per Share

WesBanco Inc (NASDAQ:WSBC) announced a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Shareholders of record on Friday, March 9th will be given a dividend of 0.29 per share by the financial services provider on Monday, April 2nd. This represents a $1.16 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, March 8th. This is a positive change from WesBanco’s previous quarterly dividend of $0.26.

NASDAQ:WSBC traded down $0.37 during trading hours on Thursday, hitting $42.26. 90,160 shares of the stock were exchanged, compared to its average volume of 118,544. WesBanco has a 52-week low of $35.49 and a 52-week high of $44.78. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1,838.45, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.44 and a beta of 0.92.

WesBanco (NASDAQ:WSBC) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.04. WesBanco had a return on equity of 7.81% and a net margin of 22.43%. The company had revenue of $96.12 million during the quarter, compared to analyst estimates of $98.48 million. During the same period in the previous year, the business earned $0.59 EPS. research analysts forecast that WesBanco will post 2.9 earnings per share for the current year.

Several equities research analysts have commented on the company. BidaskClub lowered WesBanco from a “sell” rating to a “strong sell” rating in a research note on Friday, January 26th. Zacks Investment Research cut WesBanco from a “buy” rating to a “hold” rating and set a $46.00 target price on the stock. in a report on Saturday, January 13th. Boenning Scattergood restated a “hold” rating on shares of WesBanco in a report on Tuesday, January 2nd. Finally, DA Davidson set a $48.00 target price on WesBanco and gave the stock a “buy” rating in a report on Thursday, December 21st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $43.00.

In related news, Director Denise H. Knouse-Snyder bought 1,575 shares of the stock in a transaction dated Monday, January 29th. The shares were acquired at an average cost of $41.44 per share, for a total transaction of $65,268.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $82,880. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.14% of the company’s stock.

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WesBanco Company Profile

WesBanco, Inc (WesBanco) is a bank holding company. The Company offers a range of financial services, including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. WesBanco offers its services through two segments: community banking, which offers services, such as commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and trust and investment services, which offers trust services, as well as various alternative investment products, including mutual funds.

Dividend History for WesBanco (NASDAQ:WSBC)

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