KLP Kapitalforvaltning AS Takes Position in WesBanco, Inc. (NASDAQ:WSBC)

KLP Kapitalforvaltning AS bought a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,833 shares of the financial services provider's stock, valued at approximately $421,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in shares of WesBanco in the third quarter worth about $56,000. Principal Securities Inc. grew its stake in WesBanco by 40.9% in the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider's stock worth $68,000 after acquiring an additional 603 shares in the last quarter. Roble Belko & Company Inc purchased a new position in shares of WesBanco during the fourth quarter worth approximately $78,000. Allworth Financial LP raised its stake 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 valued at $78,000 after acquiring an additional 2,146 shares in the last quarter. Finally, Hilltop National Bank boosted its holdings 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 valued at $82,000 after purchasing an additional 413 shares during the period. Hedge funds and other institutional investors own 61.41% of the company's stock.

WesBanco Stock Performance

WSBC stock traded up $1.39 during trading on Wednesday, reaching $28.79. The company had a trading volume of 1,006,831 shares, compared to its average volume of 391,664. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 12.85 and a beta of 0.76. WesBanco, Inc. has a twelve month low of $25.56 and a twelve month 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 simple moving average of $32.89 and a 200-day simple moving average of $32.84.

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WesBanco (NASDAQ:WSBC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, topping 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, sell-side analysts expect that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend was Monday, March 10th. WesBanco's dividend payout ratio is presently 66.07%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Piper Sandler began coverage on WesBanco in a report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price objective on the stock. DA Davidson boosted their price target on WesBanco from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised WesBanco from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $40.00 to $44.00 in a research report on Monday, February 10th. StockNews.com upgraded WesBanco from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Finally, Raymond James decreased their price target 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. 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 company. According to MarketBeat.com, the company currently 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.