WesBanco, Inc. (NASDAQ:WSBC) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 192.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,365 shares of the financial services provider's stock after buying an additional 13,401 shares during the quarter. Mackenzie Financial Corp's holdings in WesBanco were worth $663,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSBC. Sterling Capital Management LLC boosted its position in WesBanco by 807.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock valued at $59,000 after buying an additional 1,614 shares during the last quarter. Principal Securities Inc. boosted its position in 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 buying an additional 603 shares during the last quarter. Allworth Financial LP lifted its position in shares of WesBanco by 668.5% during the fourth quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock worth $78,000 after purchasing an additional 2,146 shares during the last quarter. Quarry LP bought a new position in shares of WesBanco during the fourth quarter worth about $89,000. Finally, Kentucky Trust Co bought a new position in shares of WesBanco during the fourth quarter worth about $126,000. 61.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Raymond James reduced their price target on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price target on shares of WesBanco from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Royal Bank of Canada reduced their price target on shares of WesBanco from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Finally, Piper Sandler assumed coverage on shares of WesBanco in a research report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price target on the stock. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.71.

WesBanco Stock Performance

WSBC traded up $0.43 on Friday, hitting $30.85. 383,119 shares of the company's stock were exchanged, compared to its average volume of 454,584. The firm has a market cap of $2.95 billion, a PE ratio of 13.77 and a beta of 0.85. WesBanco, Inc. has a twelve month low of $25.56 and a twelve month high of $37.36. The stock has a fifty day moving average of $29.89 and a two-hundred day moving average of $32.43. 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 (NASDAQ:WSBC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.06. The firm had revenue of $253.23 million for the quarter, compared to analyst estimates of $206.63 million. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, research analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.48 annualized dividend and a yield of 4.80%. WesBanco's dividend payout ratio (DPR) is 96.73%.

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.