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Fintel reports that on January 5, 2024, Raymond James upgraded their outlook for WesBanco (NasdaqGS:WSBC) from Market Perform to Outperform .

Analyst Price Forecast Suggests 7.61% Downside

As of December 17, 2023, the average one-year price target for WesBanco is 27.98. The forecasts range from a low of 23.23 to a high of $31.50. The average price target represents a decrease of 7.61% from its latest reported closing price of 30.28.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for WesBanco is 563MM, a decrease of 5.42%. The projected annual non-GAAP EPS is 3.45.

WesBanco Declares $0.36 Dividend

On November 15, 2023 the company declared a regular quarterly dividend of $0.36 per share ($1.44 annualized). Shareholders of record as of December 8, 2023 received the payment on January 2, 2024. Previously, the company paid $0.35 per share.

At the current share price of $30.28 / share, the stock's dividend yield is 4.76%.

Looking back five years and taking a sample every week, the average dividend yield has been 4.23%, the lowest has been 2.74%, and the highest has been 6.56%. The standard deviation of yields is 0.97 (n=233).

The current dividend yield is 0.54 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.48. 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 0.12%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 413 funds or institutions reporting positions in WesBanco. This is an increase of 5 owner(s) or 1.23% in the last quarter. Average portfolio weight of all funds dedicated to WSBC is 0.07%, a decrease of 0.04%. Total shares owned by institutions increased in the last three months by 1.79% to 42,024K shares. The put/call ratio of WSBC is 1.15, indicating a bearish outlook.

What are Other Shareholders Doing?

Macquarie Group holds 1,772K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 1,893K shares, representing a decrease of 6.84%. The firm increased its portfolio allocation in WSBC by 11.54% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,756K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 1,752K shares, representing an increase of 0.26%. The firm decreased its portfolio allocation in WSBC by 0.77% over the last quarter.

Wesbanco Bank holds 1,727K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 1,740K shares, representing a decrease of 0.75%. The firm decreased its portfolio allocation in WSBC by 47.71% over the last quarter.

Earnest Partners holds 1,485K shares representing 2.50% ownership of the company. In it's prior filing, the firm reported owning 1,344K shares, representing an increase of 9.49%. The firm increased its portfolio allocation in WSBC by 8.71% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,448K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 1,453K shares, representing a decrease of 0.32%. The firm decreased its portfolio allocation in WSBC by 0.35% 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.

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This story originally appeared on Fintel.

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