18,998 Shares in WesBanco, Inc. (NASDAQ:WSBC) Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp purchased 18,998 shares of WesBanco, Inc., valued at approximately $588,000, during the first quarter.
• WesBanco's recent quarterly earnings reported an EPS of $0.91, exceeding estimates, with a revenue of $260.73 million.
• The company announced a quarterly dividend of $0.37 per share, representing an annualized yield of 5.0% and a payout ratio of 89.16%.

Alberta Investment Management Corp acquired a new position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 18,998 shares of the financial services provider's stock, valued at approximately $588,000.

A number of other institutional investors have also recently added to or reduced their stakes in WSBC. US Bancorp DE boosted its position in WesBanco by 2.2% during the 1st quarter. US Bancorp DE now owns 59,472 shares of the financial services provider's stock worth $1,841,000 after purchasing an additional 1,275 shares during the period. XTX Topco Ltd lifted its stake in shares of WesBanco by 50.2% during the first quarter. XTX Topco Ltd now owns 20,466 shares of the financial services provider's stock worth $634,000 after purchasing an additional 6,840 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of WesBanco in the first quarter worth about $26,000. Picton Mahoney Asset Management acquired a new stake in shares of WesBanco in the first quarter valued at about $1,074,000. Finally, LPL Financial LLC raised its holdings in shares of WesBanco by 44.9% during the 1st quarter. LPL Financial LLC now owns 64,023 shares of the financial services provider's stock valued at $1,982,000 after buying an additional 19,836 shares during the period. Hedge funds and other institutional investors own 61.41% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WSBC shares. Keefe, Bruyette & Woods decreased their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada lowered their price target on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, WesBanco has an average rating of "Moderate Buy" and an average price target of $38.83.

WesBanco Stock Down 0.2%

Shares of WSBC traded down $0.07 during trading on Wednesday, reaching $29.69. The company's stock had a trading volume of 452,112 shares, compared to its average volume of 609,749. WesBanco, Inc. has a twelve month low of $26.42 and a twelve month high of $37.36. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 17.89 and a beta of 0.87. The company has a fifty day moving average of $31.59 and a two-hundred day moving average of $31.83.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The firm had revenue of $260.73 million for the quarter, compared to the consensus estimate of $261.14 million. WesBanco had a net margin of 11.65% and a return on equity of 7.72%. During the same period in the prior year, the firm posted $0.49 EPS. On average, sell-side analysts predict that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a yield of 5.0%. WesBanco's dividend payout ratio (DPR) is currently 89.16%.

About WesBanco

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.