Canada Pension Plan Investment Board Buys Shares of 36,300 WesBanco, Inc. (NASDAQ:WSBC)

Canada Pension Plan Investment Board acquired a new position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 36,300 shares of the financial services provider's stock, valued at approximately $1,181,000. Canada Pension Plan Investment Board owned about 0.05% of WesBanco at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in WesBanco by 807.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock worth $59,000 after buying an additional 1,614 shares during the last quarter. Principal Securities Inc. raised its position in shares of WesBanco by 40.9% in the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 603 shares during the last quarter. Roble Belko & Company Inc acquired a new stake in WesBanco in the 4th quarter worth approximately $78,000. Allworth Financial LP increased its stake in WesBanco by 668.5% during the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 2,146 shares in the last quarter. Finally, Hilltop National Bank lifted its stake in shares of WesBanco by 19.6% during the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider's stock worth $82,000 after buying an additional 413 shares during the period. Institutional investors own 61.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. DA Davidson upped their target price on WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Piper Sandler began coverage on WesBanco in a research note on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price objective for the company. Keefe, Bruyette & Woods upgraded WesBanco from a "market perform" rating to an "outperform" rating and upped their target price for the company from $40.00 to $44.00 in a research report on Monday, February 10th. Raymond James reduced their price target on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Stephens reaffirmed an "equal weight" rating and issued a $39.00 price objective on shares of WesBanco in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $39.43.

WesBanco Stock Performance

WSBC traded down $0.13 on Wednesday, reaching $29.78. The stock had a trading volume of 732,674 shares, compared to its average volume of 423,022. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36. The business's 50-day moving average price is $30.67 and its two-hundred day moving average price is $32.75. The company has a market cap of $1.99 billion, a P/E ratio of 13.29 and a beta of 0.76.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $253.23 million for the quarter, compared to analyst estimates of $206.63 million. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. During the same period last year, the company earned $0.56 earnings per share. Sell-side analysts forecast that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date was Monday, March 10th. WesBanco's dividend payout ratio is presently 66.07%.

WesBanco Company Profile

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.