WesBanco (WSBC) Reaches New 1-Year High and Low Following Dividend Announcement

WesBanco (NASDAQ:WSBC)’s share price reached a new 52-week high and low during trading on Thursday after the company announced a dividend. The stock traded as low as $46.57 and last traded at $46.61, with a volume of 703 shares. The stock had previously closed at $46.22.

The newly announced dividend which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be issued a $0.29 dividend. The ex-dividend date is Thursday, June 7th. This represents a $1.16 annualized dividend and a yield of 2.49%. WesBanco’s dividend payout ratio (DPR) is 47.35%.

WSBC has been the subject of several recent research reports. Zacks Investment Research cut WesBanco from a “hold” rating to a “sell” rating in a report on Friday, March 30th. BidaskClub cut WesBanco from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Boenning Scattergood reaffirmed a “hold” rating on shares of WesBanco in a report on Wednesday, January 24th. Finally, ValuEngine cut WesBanco from a “buy” rating to a “hold” rating in a report on Friday, May 4th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. WesBanco has an average rating of “Buy” and a consensus price target of $43.60.

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $2.13 billion, a PE ratio of 19.02, a P/E/G ratio of 1.53 and a beta of 0.88.

WesBanco (NASDAQ:WSBC) last issued its earnings results on Tuesday, April 17th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.07. WesBanco had a return on equity of 8.29% and a net margin of 23.81%. The business had revenue of $97.27 million during the quarter, compared to analysts’ expectations of $96.77 million. During the same period in the prior year, the firm posted $0.59 EPS. WesBanco’s quarterly revenue was up 3.9% compared to the same quarter last year. equities research analysts anticipate that WesBanco will post 2.99 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Foundry Partners LLC raised its holdings in shares of WesBanco by 6.6% in the 1st quarter. Foundry Partners LLC now owns 204,657 shares of the financial services provider’s stock worth $8,657,000 after buying an additional 12,665 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of WesBanco by 1.8% in the 1st quarter. Earnest Partners LLC now owns 1,755,912 shares of the financial services provider’s stock worth $74,275,000 after buying an additional 31,177 shares in the last quarter. LPL Financial LLC acquired a new position in shares of WesBanco in the 1st quarter worth approximately $406,000. Barclays PLC raised its holdings in shares of WesBanco by 31.2% in the 1st quarter. Barclays PLC now owns 8,766 shares of the financial services provider’s stock worth $371,000 after buying an additional 2,087 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of WesBanco by 67.7% in the 1st quarter. UBS Group AG now owns 14,373 shares of the financial services provider’s stock worth $608,000 after buying an additional 5,800 shares in the last quarter. 58.39% of the stock is owned by institutional investors and hedge funds.

About WesBanco

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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