Cambridge Investment Research Advisors Inc. Increases Position in WesBanco, Inc. (NASDAQ:WSBC)

Cambridge Investment Research Advisors Inc. boosted its position in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 258.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,232 shares of the financial services provider's stock after acquiring an additional 28,302 shares during the period. Cambridge Investment Research Advisors Inc. owned 0.06% of WesBanco worth $1,215,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in WesBanco during the first quarter valued at about $34,000. Sterling Capital Management LLC boosted its stake in WesBanco by 807.0% in the fourth 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 in the last quarter. Quarry LP bought a new position in WesBanco during the fourth quarter valued at approximately $89,000. Cetera Investment Advisers purchased a new position in shares of WesBanco during the fourth quarter worth approximately $200,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of WesBanco in the 4th quarter worth approximately $201,000. Institutional investors own 61.41% of the company's stock.

Wall Street Analyst Weigh In

WSBC has been the subject of several recent research reports. 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 research note on Thursday, May 1st. Raymond James Financial dropped their target price on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Finally, Piper Sandler started coverage on WesBanco in a research report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price for the company. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.71.

WesBanco Stock Performance

Shares of NASDAQ:WSBC traded down $0.22 during midday trading on Monday, hitting $33.48. The company had a trading volume of 199,696 shares, compared to its average volume of 479,477. WesBanco, Inc. has a 12-month low of $26.42 and a 12-month high of $37.36. The company has a fifty day moving average of $31.12 and a two-hundred day moving average of $31.85. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 21.87 and a beta of 0.85. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.91.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. WesBanco had a return on equity of 6.07% and a net margin of 10.52%. The firm had revenue of $253.23 million for the quarter, compared to the consensus estimate of $206.63 million. During the same quarter last year, the company earned $0.56 earnings per share. On average, equities research analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Friday, June 6th. WesBanco's payout ratio is 96.73%.

WesBanco 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.