WesBanco, Inc. (NASDAQ:WSBC) Raises Dividend to $0.38 Per Share

WesBanco, Inc. (NASDAQ:WSBC) declared a quarterly dividend on Wednesday, November 19th. Shareholders of record on Friday, December 5th will be given a dividend of 0.38 per share by the financial services provider on Friday, January 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, December 5th. This is a 2.7% increase from WesBanco’s previous quarterly dividend of $0.37.

WesBanco has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 14 years. WesBanco has a dividend payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect WesBanco to earn $3.91 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 37.9%.

WesBanco Stock Up 0.5%

Shares of NASDAQ:WSBC opened at $30.42 on Thursday. The firm has a market capitalization of $2.92 billion, a P/E ratio of 15.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a 50 day moving average price of $31.53 and a 200-day moving average price of $31.53. WesBanco has a 52-week low of $26.42 and a 52-week high of $37.36.

WesBanco (NASDAQ:WSBC) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.05. The company had revenue of $261.58 million for the quarter, compared to analysts’ expectations of $263.38 million. WesBanco had a return on equity of 8.55% and a net margin of 13.91%.During the same period in the prior year, the firm earned $0.54 earnings per share. As a group, equities research analysts anticipate that WesBanco will post 3.24 EPS for the current fiscal year.

About WesBanco

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.