Northern Trust Corp Purchases 16,997 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Northern Trust Corp raised its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 763,720 shares of the financial services provider's stock after buying an additional 16,997 shares during the period. Northern Trust Corp owned about 1.14% of WesBanco worth $24,851,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WSBC. Sterling Capital Management LLC raised its stake in shares of WesBanco by 807.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,814 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 1,614 shares during the last quarter. Principal Securities Inc. lifted its position in WesBanco by 40.9% during the fourth 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 period. Allworth Financial LP boosted its holdings in shares of 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 buying an additional 2,146 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in shares of WesBanco in the 4th quarter worth about $78,000. Finally, Quarry LP bought a new position in shares of WesBanco in the 4th quarter worth about $89,000. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

WesBanco Stock Down 0.6%

Shares of WesBanco stock traded down $0.19 on Friday, reaching $32.14. The company's stock had a trading volume of 93,478 shares, compared to its average volume of 630,684. WesBanco, Inc. has a 52 week low of $25.56 and a 52 week high of $37.36. The firm's fifty day simple moving average is $30.06 and its two-hundred day simple moving average is $32.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 14.34 and a beta of 0.81.

WesBanco (NASDAQ:WSBC - Get Free Report) last issued 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 business had revenue of $253.23 million during 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 quarter in the previous year, the firm earned $0.56 EPS. Equities analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $0.37 per share. The ex-dividend date was Monday, March 10th. This represents a $1.48 dividend on an annualized basis and a yield of 4.60%. WesBanco's dividend payout ratio (DPR) is 96.73%.

Wall Street Analysts Forecast Growth

WSBC has been the subject of several recent research reports. Stephens reiterated an "equal weight" rating and set a $39.00 target price on shares of WesBanco in a report on Thursday, January 23rd. Raymond James dropped their target price on WesBanco from $44.00 to $38.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Royal Bank of Canada reduced their price target on WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Piper Sandler began coverage on WesBanco in a research report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price target for the company. Finally, StockNews.com raised shares of WesBanco from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $38.71.

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.