WesBanco, Inc. (NASDAQ:WSBC – Get Free Report) announced a quarterly dividend on Wednesday, May 20th. Stockholders 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 dividend 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 raised its dividend annually for the last 14 consecutive years. WesBanco has a dividend payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect WesBanco to earn $3.96 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 38.4%.
WesBanco Stock Performance
NASDAQ WSBC opened at $34.57 on Wednesday. WesBanco has a 1 year low of $29.18 and a 1 year high of $38.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 11.15 and a beta of 0.68. The company has a fifty day moving average price of $34.50 and a 200-day moving average price of $34.35.
WesBanco declared that its board has initiated a stock repurchase plan on Wednesday, May 20th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership 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.
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