WesBanco Inc to Issue Quarterly Dividend of $0.26 (WSBC)
WesBanco Inc (NASDAQ:WSBC) declared a quarterly dividend on Thursday, May 18th. Stockholders of record on Friday, June 9th will be paid a dividend of 0.26 per share by the financial services provider on Saturday, July 1st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Wednesday, June 7th.
Shares of WesBanco (NASDAQ:WSBC) traded up 0.24% on Friday, hitting $38.38. The stock had a trading volume of 21,314 shares. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 17.78 and a beta of 0.88. The firm has a 50 day moving average of $38.93 and a 200-day moving average of $39.75. WesBanco has a 1-year low of $29.44 and a 1-year high of $44.19.
WesBanco (NASDAQ:WSBC) last posted its earnings results on Tuesday, April 18th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The company had revenue of $93.60 million for the quarter, compared to analysts’ expectations of $94.82 million. WesBanco had a return on equity of 7.81% and a net margin of 23.57%. WesBanco’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Equities analysts predict that WesBanco will post $2.49 earnings per share for the current year.
Several analysts recently issued reports on the company. Zacks Investment Research raised WesBanco from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, March 29th. Stephens reissued an “overweight” rating on shares of WesBanco in a research note on Tuesday, April 11th. Sandler O’Neill raised WesBanco from a “hold” rating to a “buy” rating in a research note on Wednesday, March 29th. Keefe, Bruyette & Woods set a $42.00 target price on WesBanco and gave the stock a “hold” rating in a research note on Monday, April 10th. Finally, DA Davidson assumed coverage on WesBanco in a research note on Monday, March 6th. They issued a “neutral” rating and a $45.00 target price on the stock. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. WesBanco has a consensus rating of “Hold” and an average target price of $40.00.
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In other WesBanco news, Director Lisa A. Knutson bought 3,200 shares of the stock in a transaction dated Thursday, March 2nd. The stock was purchased at an average cost of $40.63 per share, for a total transaction of $130,016.00. Following the completion of the acquisition, the director now owns 6,378 shares of the company’s stock, valued at $259,138.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gregory A. Dugan sold 8,000 shares of WesBanco stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $40.72, for a total transaction of $325,760.00. Following the transaction, the executive vice president now owns 13,051 shares of the company’s stock, valued at $531,436.72. The disclosure for this sale can be found here. Company insiders own 4.22% of the company’s stock.
A hedge fund recently raised its stake in WesBanco stock. Teachers Advisors LLC raised its stake in shares of WesBanco Inc (NASDAQ:WSBC) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,979 shares of the financial services provider’s stock after buying an additional 1,797 shares during the period. Teachers Advisors LLC owned 0.16% of WesBanco worth $2,705,000 as of its most recent SEC filing. Institutional investors own 55.10% of the company’s stock.
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.
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