Norges Bank Makes New Investment in WesBanco, Inc. (NASDAQ:WSBC)

Norges Bank purchased a new stake in shares of WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 54,428 shares of the financial services provider's stock, valued at approximately $1,771,000. Norges Bank owned 0.08% of WesBanco at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of WesBanco in the 3rd quarter worth approximately $56,000. Principal Securities Inc. grew its stake in shares of WesBanco by 40.9% in the fourth 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 during the last quarter. Roble Belko & Company Inc purchased a new position in shares of WesBanco in the 4th quarter worth about $78,000. Allworth Financial LP boosted its stake in WesBanco by 668.5% in the 4th quarter. Allworth Financial LP now owns 2,467 shares of the financial services provider's stock worth $78,000 after purchasing an additional 2,146 shares in the last quarter. Finally, Hilltop National Bank grew its position in WesBanco by 19.6% during the 4th 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 last quarter. Institutional investors own 61.41% of the company's stock.

WesBanco Stock Performance

Shares of NASDAQ:WSBC traded up $0.64 during midday trading on Tuesday, hitting $27.75. The company had a trading volume of 561,628 shares, compared to its average volume of 397,676. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 12.39 and a beta of 0.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The company has a fifty day moving average of $32.41 and a two-hundred day moving average of $32.82. WesBanco, Inc. has a 12-month low of $25.56 and a 12-month high of $37.36.

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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 return on equity of 6.30% and a net margin of 15.89%. On average, equities research analysts expect that WesBanco, Inc. will post 3.24 EPS for the current fiscal year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given 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 5.33%. WesBanco's payout ratio is 66.07%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WSBC. Stephens reiterated an "equal weight" rating and set a $39.00 price target on shares of WesBanco in a report on Thursday, January 23rd. DA Davidson upped their price target on WesBanco from $44.00 to $45.00 and gave the company a "buy" rating in a report on Monday, January 27th. StockNews.com upgraded WesBanco from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. 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 report on Monday, February 10th. Finally, Piper Sandler initiated coverage on shares of WesBanco in a report on Thursday, April 3rd. They set an "overweight" rating and a $37.00 price objective for the company. 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $39.43.

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.