Founders Financial Alliance LLC Sells 6,746 Shares of WesBanco, Inc. (NASDAQ:WSBC)

Founders Financial Alliance LLC trimmed its holdings in shares of WesBanco, Inc. (NASDAQ:WSBC) by 37.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,208 shares of the financial services provider’s stock after selling 6,746 shares during the period. Founders Financial Alliance LLC’s holdings in WesBanco were worth $365,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. IFP Advisors Inc boosted its position in WesBanco by 1.3% during the fourth quarter. IFP Advisors Inc now owns 22,873 shares of the financial services provider’s stock valued at $744,000 after purchasing an additional 304 shares during the last quarter. Hilltop National Bank raised its stake in shares of WesBanco by 19.6% during the 4th 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. boosted its holdings in shares of WesBanco by 40.9% in the 4th quarter. Principal Securities Inc. now owns 2,079 shares of the financial services provider’s stock valued at $68,000 after buying an additional 603 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of WesBanco by 7.2% in the fourth quarter. Handelsbanken Fonder AB now owns 11,900 shares of the financial services provider’s stock valued at $387,000 after buying an additional 800 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in WesBanco by 3.0% during the third quarter. Cerity Partners LLC now owns 30,049 shares of the financial services provider’s stock worth $895,000 after buying an additional 867 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

Wall Street Analyst Weigh In

WSBC has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of WesBanco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods upgraded shares of WesBanco from a “market perform” rating to an “outperform” rating and raised their target price for the company from $40.00 to $44.00 in a research note on Monday, February 10th. Stephens reissued an “equal weight” rating and set a $39.00 price target on shares of WesBanco in a research report on Thursday, January 23rd. DA Davidson upped their price objective on WesBanco from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Raymond James upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $35.00 to $44.00 in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.83.

WesBanco Price Performance

Shares of NASDAQ WSBC opened at $30.56 on Wednesday. The business’s 50 day moving average is $33.86 and its 200-day moving average is $32.99. The firm has a market cap of $2.05 billion, a P/E ratio of 13.64 and a beta of 0.84. WesBanco, Inc. has a 1-year low of $25.56 and a 1-year high of $37.36. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55.

WesBanco (NASDAQ:WSBC) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. WesBanco had a return on equity of 6.30% and a net margin of 15.89%. Equities research analysts predict that WesBanco, Inc. will post 3.24 earnings per share for the current year.

WesBanco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.48 annualized dividend and a yield of 4.84%. WesBanco’s dividend payout ratio is 66.07%.

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.