Raymond James Financial Inc. Invests $5.35 Million in WesBanco, Inc. (NASDAQ:WSBC)

Raymond James Financial Inc. acquired a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 164,275 shares of the financial services provider's stock, valued at approximately $5,345,000. Raymond James Financial Inc. owned approximately 0.25% of WesBanco at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in WesBanco by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 6,710,539 shares of the financial services provider's stock valued at $218,361,000 after buying an additional 705,483 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of WesBanco by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,502,057 shares of the financial services provider's stock worth $48,888,000 after purchasing an additional 82,987 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of WesBanco by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 872,035 shares of the financial services provider's stock worth $28,376,000 after purchasing an additional 50,704 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of WesBanco by 25.2% in the fourth quarter. Segall Bryant & Hamill LLC now owns 780,444 shares of the financial services provider's stock worth $25,396,000 after purchasing an additional 156,903 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of WesBanco by 30.5% in the fourth quarter. New York State Common Retirement Fund now owns 653,656 shares of the financial services provider's stock worth $21,270,000 after purchasing an additional 152,766 shares in the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

WesBanco Stock Performance

Shares of NASDAQ:WSBC traded up $0.24 on Monday, hitting $29.79. 562,437 shares of the company were exchanged, compared to its average volume of 418,967. The company's 50 day moving average price is $30.91 and its two-hundred day moving average price is $32.79. 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 firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 13.30 and a beta of 0.76.

WesBanco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.48 annualized dividend and a dividend yield of 4.97%. WesBanco's payout ratio is 66.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WSBC shares. Piper Sandler started coverage on WesBanco in a report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 price objective on the stock. Keefe, Bruyette & Woods raised shares of WesBanco from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $40.00 to $44.00 in a research report on Monday, February 10th. Stephens reiterated an "equal weight" rating and issued a $39.00 target price on shares of WesBanco in a research note on Thursday, January 23rd. Raymond James cut their target price on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Finally, DA Davidson boosted their target price on shares of WesBanco from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.43.

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.