WesBanco, Inc. (WSBC) to Issue Quarterly Dividend of $0.38 on July 1st

WesBanco, Inc. (NASDAQ:WSBC) announced a quarterly dividend on Wednesday, May 20th. Investors of record on Friday, June 5th will be given a dividend of 0.38 per share by the financial services provider on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, June 5th.

WesBanco has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 14 years. WesBanco has a dividend payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect WesBanco to earn $3.93 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 38.7%.

WesBanco Stock Performance

WSBC opened at $34.62 on Friday. WesBanco has a 52-week low of $29.18 and a 52-week high of $38.10. The firm has a market capitalization of $3.33 billion, a PE ratio of 11.17 and a beta of 0.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 0.92. The business’s 50-day simple moving average is $34.31 and its 200 day simple moving average is $34.16.

WesBanco (NASDAQ:WSBC) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. WesBanco had a return on equity of 9.76% and a net margin of 21.12%.The business had revenue of $257.23 million for the quarter, compared to analyst estimates of $264.52 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. WesBanco’s revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts expect that WesBanco will post 3.58 earnings per share for the current fiscal year.

WesBanco announced that its board has initiated a stock repurchase program on Wednesday, May 20th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

About WesBanco

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.