Cambridge Investment Research Advisors Inc. Buys 28,302 Shares of WesBanco, Inc. (NASDAQ:WSBC)

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

Several other institutional investors and hedge funds also recently modified their holdings of WSBC. Bfsg LLC acquired a new position in WesBanco during the first quarter valued at approximately $1,217,000. Janney Montgomery Scott LLC boosted its position in WesBanco by 25.4% during the first quarter. Janney Montgomery Scott LLC now owns 14,743 shares of the financial services provider's stock valued at $456,000 after purchasing an additional 2,983 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in WesBanco during the first quarter valued at approximately $34,000. Wealth Enhancement Advisory Services LLC boosted its position in WesBanco by 52.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,566 shares of the financial services provider's stock valued at $358,000 after purchasing an additional 3,958 shares during the last quarter. Finally, SummerHaven Investment Management LLC acquired a new position in WesBanco during the first quarter valued at approximately $941,000. 61.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WSBC. Keefe, Bruyette & Woods reduced their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. 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 on the stock. Raymond James Financial dropped their price objective on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Royal Bank Of Canada dropped their price objective on WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Three equities 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.71.

WesBanco Stock Performance

Shares of NASDAQ WSBC traded down $0.37 during trading hours on Monday, reaching $33.33. 515,929 shares of the stock were exchanged, compared to its average volume of 480,698. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 21.78 and a beta of 0.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.93. WesBanco, Inc. has a 52 week low of $26.42 and a 52 week high of $37.36. The stock's fifty day simple moving average is $31.19 and its 200 day simple moving average is $31.85.

WesBanco (NASDAQ:WSBC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates 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 6.07% and a net margin of 10.52%. During the same quarter last year, the company earned $0.56 earnings per share. Sell-side analysts predict that WesBanco, Inc. will post 3.24 EPS for the current year.

WesBanco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, June 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.44%. WesBanco's dividend payout ratio (DPR) is currently 96.73%.

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.