WesBanco, Inc. (NASDAQ:WSBC) Announces $0.38 Quarterly Dividend

WesBanco, Inc. (NASDAQ:WSBC) declared a quarterly dividend on Wednesday, August 19th. Shareholders of record on Friday, September 4th will be paid a dividend of 0.38 per share by the financial services provider on Thursday, October 1st. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 4th.

WesBanco has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 14 consecutive years. WesBanco has a dividend payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect WesBanco to earn $3.87 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 39.3%.

WesBanco Trading Down 2.5%

Shares of WesBanco stock opened at $41.16 on Thursday. The company has a 50-day moving average of $39.86 and a two-hundred day moving average of $36.63. WesBanco has a 12-month low of $29.57 and a 12-month high of $43.02. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.95 billion, a PE ratio of 11.97 and a beta of 0.67.

WesBanco (NASDAQ:WSBC) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.85 by $0.07. WesBanco had a return on equity of 9.72% and a net margin of 23.35%.The business had revenue of $275.79 million for the quarter, compared to analyst estimates of $267.71 million. On average, research analysts anticipate that WesBanco will post 3.57 EPS for the current fiscal year.

WesBanco declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 20th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication 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.