WesBanco, Inc. (NASDAQ:WSBC – Get Free Report) announced a quarterly dividend on Wednesday, August 19th. Investors of record on Friday, September 4th will be given a dividend of 0.38 per share by the financial services provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 4th.
WesBanco has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 14 consecutive years. WesBanco has a 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 Stock Down 2.5%
Shares of NASDAQ:WSBC opened at $41.16 on Thursday. WesBanco has a fifty-two week low of $29.57 and a fifty-two week high of $43.02. The firm’s 50 day moving average price is $39.86 and its 200 day moving average price is $36.63. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 11.97 and a beta of 0.67.
Insider Transactions at WesBanco
In related news, EVP Jayson M. Zatta sold 12,500 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $41.80, for a total value of $522,500.00. Following the completion of the sale, the executive vice president directly owned 81,082 shares of the company’s stock, valued at $3,389,227.60. This represents a 13.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert H. Friend sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $42.06, for a total value of $252,360.00. Following the transaction, the executive vice president owned 17,361 shares in the company, valued at $730,203.66. This represents a 25.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 36,625 shares of company stock worth $1,505,462. 2.07% of the stock is owned by company insiders.
Hedge Funds Weigh In On WesBanco
A number of hedge funds have recently modified their holdings of WSBC. BlackRock Inc. acquired a new stake in WesBanco during the 2nd quarter worth $363,992,000. Bank of America Corp DE acquired a new position in WesBanco in the second quarter valued at $84,562,000. Goldman Sachs Group Inc. increased its stake in WesBanco by 179.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,543,243 shares of the financial services provider’s stock valued at $47,779,000 after purchasing an additional 991,584 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of WesBanco in the second quarter valued at about $36,433,000. Finally, FJ Capital Management LLC raised its holdings in shares of WesBanco by 771.4% in the third quarter. FJ Capital Management LLC now owns 654,296 shares of the financial services provider’s stock valued at $20,892,000 after buying an additional 579,211 shares during the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.
WesBanco Company Profile
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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