Canada Pension Plan Investment Board Invests $1.18 Million in WesBanco, Inc. (NASDAQ:WSBC)

Canada Pension Plan Investment Board purchased a new position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in shares of WesBanco in the 4th quarter worth approximately $328,000. Franklin Resources Inc. bought a new stake in WesBanco in the third quarter worth $1,148,000. Inspire Advisors LLC grew its stake in shares of WesBanco by 18.7% in the fourth quarter. Inspire Advisors LLC now owns 63,184 shares of the financial services provider's stock worth $2,056,000 after acquiring an additional 9,955 shares during the last quarter. Johnson Investment Counsel Inc. bought a new position in shares of WesBanco during the fourth quarter valued at $323,000. Finally, Magnolia Private Wealth LLC purchased a new position in shares of WesBanco in the 4th quarter worth about $269,000. Institutional investors own 61.41% of the company's stock.

WesBanco Stock Performance

Shares of NASDAQ WSBC traded up $0.24 during midday trading on Monday, hitting $29.79. 562,437 shares of the stock traded hands, compared to its average volume of 418,967. The firm has a market capitalization of $1.99 billion, a P/E ratio of 13.30 and a beta of 0.76. 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 50-day moving average of $31.05 and a two-hundred day moving average of $32.79.

WesBanco Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WSBC. Raymond James reduced their price objective on shares of WesBanco from $44.00 to $38.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods raised shares of WesBanco from a "market perform" rating to an "outperform" rating and raised their price target for the company from $40.00 to $44.00 in a research report on Monday, February 10th. StockNews.com raised WesBanco from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Piper Sandler began coverage on WesBanco in a report on Thursday, April 3rd. They issued an "overweight" rating and a $37.00 target price for the company. Finally, Stephens reaffirmed an "equal weight" rating and set a $39.00 price target on shares of WesBanco in a report on Thursday, January 23rd. Three investment 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.