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

Founders Financial Alliance LLC trimmed its position in WesBanco, Inc. (NASDAQ:WSBC) by 37.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other hedge funds have also recently made changes to their positions in the company. Johnson Investment Counsel Inc. purchased a new stake in shares of WesBanco during the 4th quarter valued at $323,000. Atlantic Union Bankshares Corp bought a new position in shares of WesBanco during the 4th quarter valued at approximately $201,000. Callan Family Office LLC purchased a new stake in shares of WesBanco during the 4th quarter worth approximately $238,000. Raymond James Financial Inc. bought a new stake in shares of WesBanco in the 4th quarter worth approximately $5,345,000. Finally, Proficio Capital Partners LLC purchased a new position in WesBanco in the fourth quarter valued at approximately $328,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

WesBanco Price Performance

WSBC stock opened at $30.56 on Wednesday. The firm has a 50 day moving average of $33.86 and a 200-day moving average of $32.99. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $2.05 billion, a P/E ratio of 13.64 and a beta of 0.84. WesBanco, Inc. has a 12 month low of $25.56 and a 12 month high of $37.36.

WesBanco (NASDAQ:WSBC) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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 predict that WesBanco, Inc. will post 3.24 earnings per share for the current fiscal year.

WesBanco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $0.37 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.48 annualized dividend and a dividend yield of 4.84%. WesBanco’s payout ratio is currently 66.07%.

Analysts Set New Price Targets

Several brokerages have issued reports on WSBC. Stephens restated 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 upgraded WesBanco from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $35.00 to $44.00 in a research note on Friday, December 6th. DA Davidson increased 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. Keefe, Bruyette & Woods raised shares of WesBanco from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $44.00 in a research report on Monday, February 10th. Finally, StockNews.com raised shares of WesBanco from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.83.

WesBanco 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.