Canada Pension Plan Investment Board Makes New Investment in WesBanco, Inc. (NASDAQ:WSBC)

Canada Pension Plan Investment Board acquired a new position in WesBanco, Inc. (NASDAQ:WSBC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 36,300 shares of the financial services provider’s stock, valued at approximately $1,181,000. Canada Pension Plan Investment Board owned 0.05% of WesBanco as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WSBC. IFP Advisors Inc raised its stake in WesBanco by 1.3% during the 4th quarter. IFP Advisors Inc now owns 22,873 shares of the financial services provider’s stock worth $744,000 after acquiring an additional 304 shares during the period. Hilltop National Bank increased its stake in shares of WesBanco by 19.6% in the fourth quarter. Hilltop National Bank now owns 2,518 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 413 shares in the last quarter. Principal Securities Inc. raised its position in shares of WesBanco by 40.9% during the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 603 shares during the period. Bank of Montreal Can lifted its stake in shares of WesBanco by 3.4% during the 4th quarter. Bank of Montreal Can now owns 20,092 shares of the financial services provider’s stock valued at $654,000 after buying an additional 665 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its holdings in WesBanco by 12.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 6,331 shares of the financial services provider’s stock worth $206,000 after buying an additional 695 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Stock Up 0.9 %

NASDAQ WSBC opened at $29.85 on Friday. The stock has a 50 day moving average price of $31.19 and a 200-day moving average price of $32.74. WesBanco, Inc. has a one year low of $25.56 and a one year high of $37.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $2.00 billion, a P/E ratio of 13.33 and a beta of 0.76.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.54 by $0.17. WesBanco had a net margin of 15.89% and a return on equity of 6.30%. As a group, equities analysts predict that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.96%. The ex-dividend date was Monday, March 10th. WesBanco’s payout ratio is 66.07%.

Analysts Set New Price Targets

WSBC has been the topic of several research analyst reports. Raymond James lowered their price objective on WesBanco from $44.00 to $38.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler assumed coverage on WesBanco in a report on Thursday, April 3rd. They issued an “overweight” rating and a $37.00 price target on the stock. DA Davidson increased their price objective on shares of WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $44.00 in a research report on Monday, February 10th. Finally, StockNews.com upgraded 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, WesBanco has a consensus rating of “Moderate Buy” and an average target price of $39.43.

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.