Fintel reports that on July 26, 2023, Stephens & Co. reiterated coverage of Wesbanco (NASDAQ:WSBC) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 3.58% Upside
As of July 6, 2023, the average one-year price target for Wesbanco is 30.16. The forecasts range from a low of 26.26 to a high of $34.65. The average price target represents an increase of 3.58% from its latest reported closing price of 29.12.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Wesbanco is 548MM, a decrease of 10.23%. The projected annual non-GAAP EPS is 3.42.
Wesbanco Declares $0.35 Dividend
On May 24, 2023 the company declared a regular quarterly dividend of $0.35 per share ($1.40 annualized). Shareholders of record as of June 9, 2023 received the payment on July 1, 2023. Previously, the company paid $0.35 per share.
At the current share price of $29.12 / share, the stock's dividend yield is 4.81%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.99%, the lowest has been 2.34%, and the highest has been 6.56%. The standard deviation of yields is 0.99 (n=235).
The current dividend yield is 0.83 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.43. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.09%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 447 funds or institutions reporting positions in Wesbanco. This is a decrease of 4 owner(s) or 0.89% in the last quarter. Average portfolio weight of all funds dedicated to WSBC is 0.09%, a decrease of 26.98%. Total shares owned by institutions decreased in the last three months by 0.92% to 40,327K shares. 
The put/call ratio of WSBC is 7.11, indicating a bearish outlook.
What are Other Shareholders Doing?
Macquarie Group holds 1,869K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 1,824K shares, representing an increase of 2.39%. The firm decreased its portfolio allocation in WSBC by 29.34% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,743K shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 1,738K shares, representing an increase of 0.30%. The firm decreased its portfolio allocation in WSBC by 23.11% over the last quarter.
Wesbanco Bank holds 1,740K shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 1,748K shares, representing a decrease of 0.46%. The firm decreased its portfolio allocation in WSBC by 19.44% over the last quarter.
DCCAX - Delaware Small Cap Core Fund holds 1,564K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 1,523K shares, representing an increase of 2.59%. The firm decreased its portfolio allocation in WSBC by 24.09% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,473K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 1,448K shares, representing an increase of 1.68%. The firm decreased its portfolio allocation in WSBC by 18.96% over the last quarter.
Wesbanco Background Information
(This description is provided by the company.)
Founded in 1870, WesBanco, Inc. is a diversified and balanced financial services company that delivers large bank capabilities with a community bank feel. Its distinct long-term growth strategies are built upon unique sustainable advantages permitting to span six states with meaningful market share. Built upon its 'Better Banking Pledge', its customer-centric service culture is focused on growing long-term relationships by pledging to serve all personal and business customer needs efficiently and effectively. In addition to a full range of online and mobile banking options and a full-suite of commercial products and services, WesBanco provides trust, wealth management, securities brokerage, and private banking services through its century-old Trust and Investment Services department, with approximately $5.0 billion of assets under management (as of December 31, 2020). WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 212 financial centers in the states of Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia. Additionally, WesBanco operates an insurance agency, WesBanco Insurance Services, Inc., and a full service broker/dealer, WesBanco Securities, Inc.
Additional reading:
- WesBanco Announces Second Quarter 2023 Financial Results Generated solid earnings and loan growth; maintained strong capital levels; stable deposits
- Second Quarter 2023 Earnings Call Presentation 25 July 2023
- AMENDED AND RESTATED EMPLOYMENT AGREEMENT
- FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT
- FIRST AMENDMENT TO RESTRICTED STOCK AGREEMENT
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
