WesBanco (WSBC) Hits New 52-Week High and Low After Dividend Announcement

WesBanco (NASDAQ:WSBC) hit a new 52-week high and low during mid-day trading on Friday following a dividend announcement from the company. The stock traded as low as $46.97 and last traded at $46.61, with a volume of 59087 shares changing hands. The stock had previously closed at $46.59.

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

A number of brokerages have recently issued reports on WSBC. Zacks Investment Research lowered shares of WesBanco from a “hold” rating to a “sell” rating in a research note on Friday, March 30th. BidaskClub lowered shares of WesBanco from a “sell” rating to a “strong sell” rating in a research note on Friday, January 26th. ValuEngine upgraded shares of WesBanco from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of WesBanco in a research note on Wednesday, January 24th. Five 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. The company has a consensus rating of “Buy” and an average price target of $43.60.

The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.54 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.95.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Tuesday, April 17th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. The firm had revenue of $97.27 million for the quarter, compared to analyst estimates of $96.77 million. WesBanco had a net margin of 23.81% and a return on equity of 8.29%. WesBanco’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. research analysts expect that WesBanco will post 2.99 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in WesBanco by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 3,661,482 shares of the financial services provider’s stock worth $154,881,000 after acquiring an additional 77,476 shares during the period. BlackRock Inc. grew its position in WesBanco by 2.3% in the 4th quarter. BlackRock Inc. now owns 2,813,716 shares of the financial services provider’s stock worth $114,377,000 after purchasing an additional 64,509 shares during the last quarter. Earnest Partners LLC grew its position in 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 purchasing an additional 31,177 shares during the last quarter. Northern Trust Corp grew its position in WesBanco by 0.4% in the 1st quarter. Northern Trust Corp now owns 925,271 shares of the financial services provider’s stock worth $39,140,000 after purchasing an additional 3,700 shares during the last quarter. Finally, River Road Asset Management LLC grew its position in WesBanco by 13.3% in the 1st quarter. River Road Asset Management LLC now owns 733,571 shares of the financial services provider’s stock worth $31,030,000 after purchasing an additional 86,285 shares during the last quarter. Hedge funds and other institutional investors own 58.39% of the company’s stock.

WesBanco Company Profile

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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